Brisbane’s successful bid for the 2032 Olympics was more than just a win for the city’s sporting aspirations. It signified a golden opportunity for savvy property investors looking to capitalise on this once-in-a-lifetime event.
With no other serious contenders, Brisbane’s green light from the International Olympic Committee (IOC) was hardly surprising. But what does it mean for the world of property investment?
In this comprehensive guide, we dive deep into the promising landscape of property investment in Brisbane and South-East Queensland.
Whether you’re a beginner or an experienced investor, we’ll provide insights, strategies, and opportunities to help you navigate this exciting time.
Understanding the Brisbane Property Market
In the realm of property investment, Brisbane has always been a city to watch. Its unique blend of urban development and natural beauty, coupled with a steady economy and diverse population, has consistently attracted investors from around the globe. The announcement of the Brisbane 2032 Olympics has only heightened this interest, turning the spotlight firmly on Brisbane’s property market.
The Economic Impact of Hosting the Olympics
Throughout history, cities that have hosted the Olympic Games have experienced substantial economic growth, and Brisbane is poised to follow this trend. Barcelona, the host city of the 1992 Summer Olympics, serves as an excellent example of how the Games can positively influence property prices. In the five years leading up to the Olympics, property values in Barcelona surged by an impressive 130%.
The transformative nature of the Games attracted tourists and potential long-term residents, leading to increased demand for rental properties and homes for sale.
Similarly, London, the host city of the 2012 Summer Olympics, witnessed significant growth in property prices. Once it was announced that London would be hosting the Games, housing prices increased by 26%, even in less desirable areas. The positive trend continued even after the event ended, demonstrating the long-term impact of hosting the Olympics on property values.
Population Growth: A Potential for High Demand
One of the key drivers of a strong property market is population growth, and Brisbane is a prime example. The SEQ region is projected to grow by 75,000 new residents each year, with the population set to rise from 3.8 million in 2022 to an astounding 5.44 million by 2041.
This significant population growth will necessitate approximately 794,000 new dwellings between now and 2041. Interestingly, around 60% of these new dwellings will result from consolidation, not expansion, implying a densification of residential areas and an increased demand for inner-city living.
Infrastructure Development: Fuelling Property Investment Opportunities
Infrastructure development is often a precursor to property market growth, and Brisbane is no exception. Several infrastructure projects are in progress or planned for the region, from transport upgrades to new educational institutions.
These projects will improve connectivity, increase employment opportunities, and enhance the overall lifestyle offering, factors that are bound to attract more residents and, in turn, stimulate the property market.
Brisbane's Olympic Goal
While Olympics are renowned for being overly costly, disruptive and wasteful to the Host City, Brisbane’s 2032 Olympics will abide by IOC’s Olympic Agenda 2020, to deliver the games through an “advanced games concept”.
This concept has a renewed focus on sustainability, which involves utilising current infrastructure and facilities rather than building new. Brisbane perfectly fulfils this focus, with official IOC documentation outlining between 80 and 90 percent of the venues used to host events already exist in Brisbane, and surrounding locales in the Sunshine Coast and Gold Coast areas.
Brisbane’s Lord Mayor Adrian Schrinner has narrowed this figure down more particularly, stating that 84 percent of venues to be used for Brisbane’s 2032 Olympics are pre-existing, will be refurbished, or will be constructed temporarily for the Games.
With only 9 years until the Brisbane Olympics, a joint Olympic Infrastructure Agency has been established with representatives from Federal, State and Local governments, and is already sounding the starting siren for a plethora of pre-planned development and infrastructure projects to begin.
Come 2032, the work currently being undertaken on large transport projects like Cross River Rail, Brisbane Metro and Coomera Connector will be completed and fully operational, however work will need to be done to upgrade public transport so that spectators can easily access sporting venues across the state’s South-eastern corner. Schrinner also commented that part of the reason for the Olympics bid was to enhance transport infrastructure and accessibility across Brisbane.
The Ripple Effect on Brisbane's Property Market
As Brisbane gears up to host the 2032 Olympic Games, the entire city is expected to experience a wave of transformations. One area set to undergo significant changes is Hamilton, which will serve as the site for an Athlete’s Village to accommodate most Olympians and participants. Hamilton has already undergone a $650 million upgrade to Kingsford Smith Drive, and further developments are expected to make it a thriving hub for residents and investors alike.
Another area that will see a spotlight during the Games is Tennyson, which has been chosen as the location for the 2023 Olympic tennis events. Chandler, however, will be one of the proposed venues for the 2023 swimming events. The focus on these locations during the Games is likely to attract attention from investors and buyers, leading to increased demand for properties in the vicinity.
Woolloongabba, the home of the iconic Gabba stadium, is set to receive $1 billion for redevelopment. The stadium’s modernisation is expected to enhance Brisbane’s sporting infrastructure and make it an attractive destination for sports enthusiasts and investors alike.
While these areas are expected to witness more dramatic changes due to their direct association with the Games, the entire city of Brisbane is likely to benefit from the positive ripple effect. As the Australian government invests in infrastructure, transportation, and other projects, the city’s livability will be enhanced, leading to increased property values and a stronger overall housing market.
“You literally couldn’t buy the type of name recognition that the Olympics would bring to a city” says Brisbane Lord Mayor Adrian Schrinner.
With name recognition comes soaring property value, and with the boom predicted for the latter half of this decade, now is the best time to contact us to assess your options!
Profitable Opportunities for Investors: Co-living and Dual Occupancy Housing
In the evolving landscape of property investment, two concepts have been gaining momentum worldwide: co-living and dual occupancy housing. These contemporary forms of housing, driven by changing lifestyle preferences and economic considerations, present unique investment opportunities. As Brisbane prepares to host the 2032 Olympics, these trends could become even more significant.
Co-Living Spaces: A New Era of Shared Living
Co-living, a modern form of shared housing where residents have private bedrooms but share common areas, has emerged as a popular trend among millennials and young professionals. Co-living spaces offer a sense of community, affordability, and flexibility, making them particularly attractive in urban areas.
The Olympics, expected to bring a surge of international visitors and temporary workers to Brisbane, could boost demand for co-living spaces. From short-term stays of tourists to longer-term accommodation for Olympic staff and volunteers, co-living properties could offer high rental yields for investors.
Dual Occupancy Housing: Maximising Returns on Land
Dual occupancy housing, where two separate dwellings are built on a single block of land, is another trend that presents huge opportunities for investors. By allowing two rental incomes from one property, dual occupancy can offer higher returns than traditional single-dwelling properties.
With the anticipated population growth driven by the Olympics, dual occupancy homes could see increased demand. They offer an affordable housing solution without compromising on space or privacy, making them appealing to a wide range of tenants.
Co-living spaces and dual occupancy housing present unique and potentially lucrative investment opportunities in the lead-up to the Brisbane Olympics.
By understanding these trends and making informed investment decisions, investors can capitalise on the exciting times ahead.
PWF's Expertise in the Greater Brisbane Area
Amidst the buzz surrounding the 2032 Olympic Games, investors seeking to capitalise on Brisbane’s property market are turning to PWF Property Wealth Finance for expert guidance. With their renowned reputation in the property investment landscape since 2004, PWF has empowered countless clients to achieve financial independence through strategic property investments.
Sally-Ann Benson, the CEO and Founder of PWF, has been at the forefront of guiding investors through the intricacies of property investment, especially in emerging locations. Her passion for helping clients make well-informed decisions has been instrumental in shaping PWF’s approach, which revolves around the three key principles of Income, Growth, and Duplication.
Tim McDavitt, PWF’s Senior Investment Strategist, plays a pivotal role in ensuring that clients are equipped with personalised solutions and access to exclusive off-market wholesale buying opportunities. His extensive knowledge of the Greater Brisbane Area and ability to identify emerging locations make him an invaluable resource for investors seeking to navigate the city’s property landscape.
Brisbane's Property Market: A Lucrative Landscape
As Brisbane undergoes significant transformations in preparation for the 2032 Olympics, property investors have an excellent opportunity to secure their share of the city’s thriving market. However, navigating the property market can be complex and challenging, especially for those unfamiliar with the region.
To make informed investment decisions, potential property investors need to research the various neighborhoods in Brisbane. Identifying popular and up-and-coming areas, as well as future development plans, is crucial in finding properties with the potential for significant growth.
Moreover, thinking long-term is key to successful property investment. A property’s current condition or proximity to amenities may not reflect its true potential for growth. Considering planned infrastructure projects and long-term prospects can help investors make savvy decisions that yield substantial returns in the future.
Establishing a budget and seeking professional guidance are vital steps in the property investment journey. Working with property management companies can streamline the process for investors, as these professionals offer expertise in property selection, financing, tenant management, and more. By partnering with experts like PWF, investors can leverage their knowledge of emerging locations and secure access to exclusive opportunities in the Greater Brisbane Area.
Unlocking Brisbane's Prosperous Future
As the countdown to the 2032 Olympic Games begins, Brisbane’s property market is ripe with potential for investors seeking growth and prosperity. The city’s city-wide improvements, coupled with PWF’s unrivalled expertise and personalised guidance, position property investors to secure a legacy of financial independence.
The 2032 Olympic Games will leave a lasting impact on the city, making Brisbane an even more desirable location to call home. With PWF’s reputation as a trusted partner in property investment, investors can confidently embark on their journey to secure a prosperous future in the Greater Brisbane Area. The Games may be a decade away, but the time to seize this golden opportunity is now. Brisbane’s property market is ready to deliver extraordinary rewards to those who dare to invest in its flourishing future.
Brisbane Olympics 2032 proposed Venues:
A summary of the total proposed locations for each sport is below.
Brisbane is the proposed location for 22 sporting venues, with many location clusters across the Zone.
Brisbane River Cluster
- Woolloongabba’s Stadium is likely to be at the centre of Brisbane’s Olympics, and it predicted to host the opening and closing ceremonies, in addition to all athletic events.
- Although The Gabba, as it is affectionally known, will be 137 years old by time the Olympics make it there in 2032. It has undergone 2 renovations since 1993, with the most recent being the construction of a 24-bay grandstand in 2005.
- Thanks to the success of Brisbane’s Olympic bid, The Gabba will receive a long overdue renovation which will upgrade capacity from 42,000 to 50,000 spectators. This renovation and redevelopment of surrounding areas will cost $1 billion and will also include a new pedestrian plaza linking the stadium to the Cross River Rail station, a revamp of the western end, making it the obvious major entry location, an elevated podium on level three, a new media halo around the top, massive video boards on either end above a standing area, plus an upgrade to corporate boxes and function rooms. The underside of the roof could also have its own 360-degree media halo. Additionally, a new warm up track has been proposed at a park adjacent to the Gabba.
A new precinct is being planned on the land previously occupied by the Parmalat milk factory on Montague Road in West End, which will act throughout the Olympics as an International Broadcasting Centre, and afterwards, will be converted to parkland.
Brisbane City Cluster
- Earlier this month, plans for the upper elements of the new Roma Street Cross River Rail Station have been approved to include an indoor arena to host swimming and some water polo events for the 2032 Games. After this, the temporary, indoor pool would be dismantled, allowing the Arena to host netball, basketball and other indoor sporting events. New residential housing, and both cycling and pedestrian paths will be constructed around the Arena, which will also have outward-facing retail opportunities and a ‘Sky Lounge’ function space. Alongside this development, 2ha of public space will be added to Roma Street Parklands, in addition to a new public plaza beside the Station.
Northshore Hamilton Cluster
- The Athlete’s Village will be constructed on land which has long been earmarked by Local and State governments as a Priority Development Area. Due to its proximity to Brisbane CBD, the newly upgraded Kingsford Smith Drive, and the Gateway Bridges, providing immediate thoroughfare to both the Gold Coast and Sunshine Coast venues. It’s pristine, waterfront location and many transport accessibility options make it a clear winner for the main Athlete’s Village. Additionally, two separate locations, one in Robina on the Gold Coast, and one on the Sunshine coast will serve as smaller Athlete’s Village residences, with the latter being a day residence only.
North Brisbane Cluster
- Tentatively pencilled in for development in Herston or Albion, the Brisbane Indoor Sports Centre will be the home of basketball for the 2032 Olympics. With a capacity of 12,000, the Indoor Sports Centre will be built in a similar fashion to the Gold Coast Sports & Leisure Centre, and the Coomera Indoor Sports Centre – both of which were used at the Gold Coast Commonwealth Games in 2018. While not a great deal is known about this facility now, it is clear that this venue will become a 12-court facility and community sports hub after the Games.
Although Ballymore Stadium is the current home of Queensland Rugby, in preparation for the Brisbane Olympics in 2032, this venue will be transformed into a 15,000-capacity hockey venue, with some redevelopment to modernise the stadium already underway.
- Originally named the Sleeman Sports Centre and built for the 1982 Brisbane Commonwealth Games, the Chandler Indoor Sports Centre will replace what is now the Chandler Arena. With a capacity upgrade to 10,000, this upgraded centre will host basketball and netball games, in addition to being the official home of Gymnastics for the entirety of the 2032 programme.
The Brisbane Aquatic Centre will undergo a massive revamp before the Brisbane Olympics, to be reimagined as a world-class indoor swimming centre. Formally part of the Sleeman Sports Complex, the reimagined Chandler Aquatic Centre will have plenty of grandstand seating in tiers around the pool.
East Brisbane Cluster
South Brisbane Cluster
- Owing to the distance between Lake Wyaralong and the three proposed Athlete’s Village sites, a small Athlete’s Village has been proposed for the rowers, to be built at Kooralbyn.
Gold Coast Zone:
Gold Coast will host several the events for the Brisbane 2032 Olympic Games, including aquatics, beach volleyball, golf, judo, triathlon, volleyball, weightlifting, and wrestling. Due to the expansive register of events booked for the Gold Coast area, an area in Collyer Quays has been tagged for the proposed Gold Coast location of the Athlete’s Village. This location is quite close to all bar one of the proposed locations and is only 2 minutes from the Cbus Stadium.
Sunshine Coast Zone:
- The Kawana Cluster, consisting of Sunshine Coast Stadium and the proposed Sunshine Coast Indoor Sports Centre will work in conjunction with the Brisbane Games, hosting the footballs and basketball preliminary events.
- The Sunshine Coast Stadium is pegged for expansion and has the majority of funding for this project sorted. This expansion will see the venue’s capacity rise to over 16,600 and will include an improvement in facilities for athletes and officials, more change rooms, new coach and media boxes, camera platforms and a production area, as well as improved first aid and hospitality spaces.
- Alexandra headland will act as the host location for road-based events (cycling, racewalking, marathon) all of which attract many spectators. Additionally, the kiteboarding and sailing competitions will likely be based at Alexandra headland, or across the Whitsundays in Far North Queensland.