Hotspotting director Terry Ryder said since Brisbane was announced as the host city of the 2032 Olympic Games more than four years ago, prices have surged.
Twenty-two suburbs in southeast Queensland are set to experience an Olympic boom, according to new research.
Analysis s by iBuyNew and Hotspotting reveals the hotspots earmarked for rapid growth ahead of the 2032 Olympic and Paralympic Games, including the potential for significant increases in dwelling prices before and after the global sporting event.
Analysis s by iBuyNew and Hotspotting reveals the hotspots earmarked for rapid growth ahead of the 2032 Olympic and Paralympic Games.
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In Brisbane, Bowen Hills, Spring Hill, Newstead, Fortitude Valley, Woolloongabba, East Brisbane, Coorparoo, Stones Corner, Dutton Park, and Kangaroo Point are tipped for strong capital growth due to proximity to Brisbane Stadium, the Athletes Village, National Aquatic Centre, and urban renewal projects.
Further south on the Gold Coast and Southport, Labrador, Benowa, Ashmore, Molendinar, and Arundel will see uplift from new venues, including the Gold Coast Arena and the Athletes Village.
124 Wrigley Street, Maroochydore sold for $870,000 last month.
On the Sunshine Coast, Maroochydore, Kawana, Yandina, Warana, Nambour, and Bokarina are set to benefit from upgraded stadiums and cycling facilities.
iBuyNew CEO Daniel Peterson said southeast Queensland was already drawing strong interest from homebuyers and investors, fuelled by $7.1b in new and upgraded Olympic facilities and billions more committed to transport infrastructure.
“The three fundamentals – strong infrastructure investment, population growth, and rental demand – are aligning perfectly,” Mr Peterson said.
“Smart property buyers will target growth corridors and Olympic precincts with properties near transport and lifestyle hubs offering excellent long-term upside.”
6/326-342 Marine Parade, Labrador this month sold for $1.585m.
Hotspotting director Terry Ryder said since Brisbane was announced as the host city more than four years ago, property prices had surged.
“Median house prices in Brisbane, the Gold Coast, and the Sunshine Coast have jumped from below $750,000 to over $1 million, with growth between 56 per cent and 66 per cent,” Mr Ryder said.
“Unit prices have seen even stronger gains, rising from under $455,000 to above $650,000, which is an increase of up to 68%.
“Infrastructure spending is what turns a location into an outperformer – and Southeast Queensland is experiencing that more than ever – with the biggest impact on property markets occurring in the lead-up to the Games.”
12 Park Road West, Dutton Park recently sold for $1.45m.
Mr Peterson said while the broader southeast market would benefit from the Games, the strongest returns will come from targeted investment in suburbs earmarked for urban renewal and new infrastructure.
“These areas are where long-term capital growth will likely be most pronounced,” he said.
“For those looking to invest soon, properties in suburbs with solid public transport and lifestyle hubs near key venues will offer excellent long-term upside.
“Apartments and townhomes close to universities, hospitals, and future employment zones will continue to be in high demand with renters and buyers.
“Getting in the market now allows property buyers to ride the full wave of Olympic-led growth over the next decade.”
Hotspotting director Terry Ryder.
Mr Ryder said the new research highlighted the positive property price performance
of previous Olympic host cities.
“Barcelona saw a 130 per cent increase in prices before the 1992 Games, while Sydney’s median house prices rose 88 per cent in the five years leading up to the 2000 Olympics,” he said.
“London’s Olympic boroughs outperformed the city average. All of these gains were driven by infrastructure upgrades, urban renewal, and global attention.
“We’re seeing a perfect storm of conditions at present – low vacancy rates, rising rents, and surging demand – which means that investors who wait may find themselves priced out of the best opportunities as the Games draw nearer.”
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