Brisbane Olympics to Push Property Market’s Limits

Brisbane property prices are expected to reach 💲1 million before the 2032 Olympics, with districts surrounding stadiums expected to reach 💲3.9 million.👇

According to PRD Research, the median price will reach 💲1.7 million by 2033 and will be “immensely” boosted on the Gold and Sunshine coasts.👇

Additionally, after the 2000 Sydney Olympics, the median house prices in Newington (the site of athletes’ villages) and the surrounding suburbs grew by 13.4%.👇

“The increase in the median house price was not limited to the year following the Olympics. There was an increase of 38.5% in the second year, and 66.4% in the third.👇

South Bank and its surrounding suburbs grew by an average of 19.1% the year after World Expo 88, and by 10.3% after the G20 Summit in 2014.👇

Whatever the calculation method used, the conclusion points towards Brisbane becoming a city with a 💲1 million median house price sooner rather than later.👇

This year’s median house price in Brisbane was 💲678,236, up 13 percent from last year.👇

Price increases of 18.2 per cent on the Gold Coast and 23.1 percent on the Sunshine Coast were recorded.👇

Low listing numbers and interstate migration, according to Domain chief of research Nicola Powell, are driving the price hike at the moment.👇

There’s also evidence that interstate and expat buyers moving from more expensive cities are driving up house prices as well, Powell said.👇

In the July results, Melbourne and Canberra officially joined Sydney in the 💲1 million home club.
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