Brisbane 2032 Olympic Games to Increase Demand for Housing

As the state commits to significant investment in infrastructure in the lead up to the Brisbane 2032 Olympics, it is anticipated this will drive resilience and strength in property prices and increase demand for housing, according to Domain’s latest Spotlight report.

With Queensland offering a lifestyle you are hard-pressed to find elsewhere, including an appealing climate, boundless natural beauty, and with Brisbane a more affordable option to other metropolitan areas such as Melbourne and Sydney, the appeal to live or invest in Queensland is coming back in vogue.

Queensland homes boast space and features considered a luxury in many other state. They offer more land, larger house size and key property features such as pools and sheds, adding further to the alluring pull of the Sunshine State. With the Redlands being located so close to Brisbane, the Gold Coast and Sunshine Coast, as well as our unique lifestyle so close to the water, the Redlands area is set to reap the rewards of the forecast property boom.

This has been seen with an increase in Domain key word searches:

  • 280% for Water Views
  • 243% Beach
  • 230% Views
  • 228% Garden & Courtyard
  • 208% Waterfront
  • 145% Balcony & Deck

Having two international airports within 90kms of each other, an economy that is rapidly expanding, 261 days of sunshine every year, an active population with 75% of Queenslanders participating in sports, exercise or recreation, Brisbane is the only Australian city to rank on the world’s Sustainability Cities Mobility Index.

Location has proven to be one of the strongest drawcards of this lifestyle pivot, and as a result, buyer demand in Queensland over the 2021 winter period has been unseasonably high compared to the previous three-year average.  According to Dr Nicola Powell, Chief of Domain’s Research & Economics, “South-east Queensland has always been a popular location for overseas buyers, this is likely to be stronger as we navigate life post-pandemic. There is no doubt Queensland will remain a hotspot for buyers now and into the future, and as a result we expect prices to continue to rise”.

Nicola continues, “Queensland is set to experience a “once in a generation” infrastructure boom in the lead up to the 2032 Olympics. As a result, infrastructure across Gold Coast, Brisbane and Sunshine Coast will vastly improve and there will be a clear roadmap and timeline for the housing infrastructure to be implemented over the next decade. This will also provide assurance to buyers and business owners that proposed developments will indeed take place as and when forecasted.

An influx of capital and subsequent job creation, which is expected to be the equivalent of 91,000 full-time jobs in Queensland, in the lead up to the games will be an economic force for South East Queensland. As a part of this cash injection we will naturally witness significant demand for housing, especially as we prepare to welcome skilled workers to the state. What we can forecast is an increased demand for rental properties to host short-mid term workers, which naturally presents opportunities for investors to capitalise on the strong rental demand.”

Cat Riddle, Communication Officer, Queensland Tourism Industry Council said “Queensland has long been an attractive market for holiday and leisure seekers due to our unbeatable climate and lifestyle. What has really come to the fore in recent times are the opportunities to make a significant lifestyle shift and enjoy the Queensland way of life year-round. This sentiment really shines through when analysing local property market trends and witnessing the demand and market growth for homeowners and investors across the state – an unprecedented increase in interest and transactions from local, domestic and foreign buyers who are eager to call the Sunshine State home. Factoring the significant shift and re-prioritisation of lifestyle factors many are experiencing as a result of the pandemic, paired with our exciting lineup of infrastructure and development projects due to Brisbane’s 2032 Olympic success, Queensland continues to strengthen its credentials as both a short and long term location that truly offers something for everyone”.

Queenslanders love the coast and we’re seeing this shine through with beachside regions topping the charts of most sought after areas. More populated areas in Queensland have always been in demand, however, a population shift is seen as a result of the pandemic, driving a social and lifestyle movement as more city dwellers relocate into regional parts.

Remember, if you need any help or advice, we are just a phone call away.

All the best, Simon.

Source: Domain Spotlight Report 2021

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