Southeast Queensland’s property market is entering a transformational phase, with 22 suburbs earmarked for rapid growth ahead of the 2032 Olympic and Paralympic Games, according to new research by iBuyNew and Hotspotting.
The analysis reveals the likely impact of the 2032 Olympic Games across the region’s property market, including the potential for significant increases in dwelling prices before and after the global sporting event.
iBuyNew CEO Daniel Peterson said the region is already drawing strong interest from homebuyers and investors, fuelled by $7.1 billion 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.”
Hotspotting Director Terry Ryder said since Brisbane was announced as the host city more than four years ago, property prices have 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% and 66%,” 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.”
22 Southeast Queensland suburbs set to boom
- 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.
- Gold Coast: Southport, Labrador, Benowa, Ashmore, Molendinar, and Arundel will see uplift from new venues, including the Gold Coast Arena and the Athletes Village.
- Sunshine Coast: Maroochydore, Kawana, Yandina, Warana, Nambour, and Bokarina are set to benefit from upgraded stadiums and cycling facilities.
Mr Peterson said while the broader southeast market will 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.”
Mr Ryder said the new research highlighted the positive property price performance of previous Olympic host cities.
“Barcelona saw a 130% increase in prices before the 1992 Games, while Sydney’s median house prices rose 88% 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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