Professionals Burleigh 
Following the closing of the Tokyo Olympics, we start to look towards 2032 when Brisbane will host the next Olympic Games. But what will this mean for the property market in Brisbane, the Gold Coast, and surrounding areas?
The effect on the housing market will be gradual with the infrastructure needed to host the Games being the priority. Brisbane and South-East Queensland will create desirability to future residents through the improvements we’ll see to roads and transport, the jobs that will become available and the publicity our sunny corner of the world will receive.
It’s likely we’ll see the positive influence on our housing market more in the years leading up to the Games, and the four weeks of competition bringing further attention and interest to South-East Queensland.
The infrastructure plans for the area creates a demand for more workers in construction which creates a need for housing during this building process and beyond. These large projects also leave a permanent demand for housing through the improved infrastructure and additional retail and social outlets.
The proposed improvements to the Gabba Stadium and the Cross River Rail terminal and plaza will leave a mark on the city and have long-term benefits for the housing market in Brisbane.
Woolloongabba is already a popular area with investors “with around two thirds of the housing stock in and around Woolloongabba being rented.“ (CoreLogic) The proximity of hospitals like the Princess Alexandra and Mater Hospital provide a permanent demand for localised housing, plus the added benefits of easy access to the Brisbane CBD, local universities and Southbank precincts.
“Currently, Woolloongabba unit prices are at the lower end of the inner south unit markets with a median unit value of $458,000; about $94,000 lower than Kangaroo Point’s median unit value, $85,500 lower than West End and $38,000 lower relative to South Brisbane.” (CoreLogic) Woolloongabba being in the lower price point plus the upcoming capital investment on infrastructure will no doubt be a desirable combination for investors and developers.
Both the Gold Coast and Sunshine Coast will see benefits from the Games with Robina and Hamilton proposed as sites for the athlete villages. These locations plus other surrounding areas will see a positive change to infrastructure and transport with the planned upgrades to both the M1 Pacific Motorway on the Gold Coast and the Sunshine Coast’s Bruce Highway.
Sourced from CoreLogic.com.au
