The Brisbane property market is experiencing a surge in demand as the city prepares for the 2032 Olympic Games, with several suburbs poised for significant price increases due to infrastructure developments.
Analysts predict that property prices in key areas of Brisbane could nearly double by 2032, driven by the billions of dollars invested in Olympic-related infrastructure. Some suburbs are expected to see price increases even greater than the 79% rise experienced in Sydney’s Strathfield leading up to the 2000 Olympics.
Recent PropTrack Home Price Index data reveals that Brisbane has already seen significant price growth. In the five years following the pandemic, Brisbane’s home prices increased by 80%, with regional Queensland experiencing even higher gains at 81.4%.
Among the areas to watch are Herston, Kelvin Grove, and Spring Hill, where property values have already jumped by as much as 116.6% since 2020, largely due to the construction of the new Olympic stadium at Victoria Park, which spans all three suburbs. Other inner-city areas such as Bowen Hills, Fortitude Valley, Woolloongabba, East Brisbane, and Kangaroo Point are expected to grow similarly, with investment in transport infrastructure and residential developments.
Further out, regional Queensland areas like the Gold Coast, Cairns, and Townsville are also predicted to benefit from the infrastructure boom, although the extent of price rises in these locations remains unclear.
The growth is attributed to the sheer volume of Olympic infrastructure spending, which is expected to uplift surrounding areas. The construction of the new Olympic stadium and National Aquatic Centre and developments such as the Athletes’ Village at the RNA Showgrounds will transform these suburbs into highly sought-after locations.
Herston and Kelvin Grove, in particular, are expected to see a significant increase in demand due to their proximity to the new stadium, with better transport links further enhancing their appeal. Similarly, Spring Hill will benefit from the proximity to the Olympic stadium and National Aquatic Centre, making it a prime location for residents looking to live near top-tier sporting facilities.
Bowen Hills and Fortitude Valley, close to the Athletes’ Village, are set to become major investment hotspots. Bowen Hills will see new residential complexes and improved transport links, while Fortitude Valley will become more accessible, attracting investors and residents.
In Woolloongabba, East Brisbane, and Kangaroo Point, the development of the Brisbane Live project, a new indoor arena, will further boost property demand. The Gabba will undergo a major transformation post-Games, evolving into a vibrant residential precinct. As Brisbane races towards the 2032 Olympics, the property market is primed for significant growth, with infrastructure projects set to elevate many suburbs to new heights.
