23 Sep Brisbane Olympics Set to Make Property Investors the Winner
Major cultural and sporting events can bring a wide range of social and economic benefits to both the local area and the wider region.
In particular, the 2032 Brisbane Olympics look set to stimulate an enormous boost to the housing market in both the capital and across other areas of south-east Queensland where events are scheduled.
This means that for investors, there is huge potential to grow your capital in this already popular part of the country, and which looks set to be the next hot spot for smart property investment.
Brisbane House Prices to Set New Records
Analysts predict that the median house price in Brisbane will hit $1 million some time before the start of the 2032 Olympics and Paralympics.
The expected infrastructure developments that accompany any major event will play an important role in this. For properties in suburbs close to Olympic venues, or popular inner-city suburbs like Woolloongabba, Dutton Park and New Farm, it is estimated that median house prices could hit $3.9 million.
There is also expected to be a boom in prices on the Gold Coast and Sunshine Coast as well, with median prices of $1.7 million being predicted in regions where Olympic and other cultural events are to be held, and which are already popular with investors.
Prices already on the up in Queensland
Well ahead of the Olympics, there has already been significant growth in house prices in Brisbane and other parts of south-east Queensland.
The latest figures from Domain show that the median price for a house in Brisbane has risen 13% in the year to July 2021, with average price in Greater Brisbane hitting $678,236 for the June 2021 quarter.
Similarly, median house prices on the Gold Coast reached $792,000 (up 18.2% on the year), while on the Sunshine Cast they have risen by 23.1%, up to $825,000.
The reasons for these rises so far ahead of the Olympics have been put down to a range of factors, including growing inwards migration from other, more expensive states, and the low listing numbers.
All of these factors, combined with the significant increases in prices we saw in the aftermath of the 2000 Olympics in Sydney, World Expo 88, and the 2014 G20 Summit, suggest that now is the time for buying an investment property in Brisbane so that you are well placed to capitalise on what is coming.
Get ahead of the international competition
Covid-19 and the associated travel restrictions has meant that international buyers have not been as active in this market as they might otherwise have been expected to be, which is a boost for local buyers looking for an investment property in Queensland.
However, the best advice for anyone looking to start or grow a property portfolio is to act now — despite that fact that the Games are still eleven years away. Once the country opens up, economies recover, the Olympics get closer and the potential becomes more widely recognised, the market in Brisbane will heat up at an even greater rate, and so it is important to be ahead of the field before the final lap.
Power of Property can deliver a gold medal investment strategy
Regardless of whether you have some knowledge about how to invest in real estate or you are a first time investor, Power of Property can develop an investment strategy that is right for you.
Our experienced property strategists can guide you on the best way to be a winner in the Brisbane property boom ahead of the 2032 Olympics, so you can take maximum advantage of surging house prices.
In addition, we have access to new property investment opportunities in Brisbane and south-east Queensland before they become available to other investors, helping you to get ahead of the rest of the field.
If you want to find out more about how to be a part of Queensland’s coming property boom, call Michael Lawton on 0407 785 560 or Danielle Charlton on 0411 268 795, or book an online property strategy session today.