SINCE it was confirmed that Brisbane will host the Olympics in 2032, I have spoken to buyers, sellers, journos, disc jockeys (are they still called that?!) among many others all with one question: “What does the Olympics coming to Brisbane mean for property prices?”
There are many factors that drive a market.
If you think about the everyday realities of properties you can get a clear understanding of what underpins value. People like to live close to their work and schools. They need transport to get around. It needs to be affordable. If there is some likely prediction that an area is going to go up in value like a new road or school or shopping precinct etc, then people will move to that area. Currently Brisbane is great value, we are affordable and there are some huge infrastructure projects already in the works. When you fold the Olympics over Brisbane you see so many of these ingredients supercharging the river city.
There will be upgrades to all major infrastructure. Transport gateways will be supercharged and super easy. There will be new stadiums creating jobs and event spaces for entertainment that will bring people to our city for the Olympics and future events for decades. Our city will also be exposed to people who have never heard or would have otherwise visited Brisbane. As a generational resident I back that our city will stand up to the occasion.
I believe these guests will take the stories of our weather, our scenery, our people and ultimately our lifestyle back to their friends and families. These stories will see Brisbane become a city of choice for thousands of people, not just hunting a short holiday but also those wanting a safe and happy city to call home. Brisbane already had a pretty incredible property story about to unfold, the Olympics win has now added support for capital growth and will protect property prices for years and years to come.
This article is from the August 1 issue of The Courier Mail Digital Edition. To subscribe, visit https://www.couriermail.com.au/.