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The Brisbane 2032 Olympic and Paralympic Games are widely tipped to bring massive growth, with property investors honing in on key markets ahead of the surge.
Population growth and infrastructure investment have been expected to provide opportunities across Brisbane’s residential, commercial, retail and industrial sectors over the coming years.
Brisbane city residential specialist, Rohan Banning, had forecast that while Brisbane CBD would be the main focus of investors and occupiers, there were signs the inner-city suburbs would also bring investment opportunities.
He said suburbs like Herston, Bowen Hills, Fortitude Valley and Kelvin Grove will become “vibrant, high-density urban areas” as space becomes more scarce in the CBD.
Banning said residents in these areas will be able to access key infrastructure to be built ahead of the Games.
“With the upgrades happening to transport hubs, these suburbs will be well-connected to the new 63,000-seat Victoria Park Stadium, the Athletes’ Village, and the National Aquatic Centre, for instance,” he said.
Additionally, Woolloongabba, Spring Hill, and Albion have also been slated to be “some of the most sought after” due to the new CBD and Olympic venues to be built.
When it comes to choosing an Australian property market to invest in, Banning ultimately suggested investors weigh up growth potential, infrastructure investment, liveability, and affordability.
“Naturally, it’s hard for me to look past Brisbane for its strong population growth, infrastructure investment ahead of the 2032 Olympics, and relatively affordable compared to Sydney and Melbourne,” he said.
Banning said that despite their popularity, first-time buyers can still find affordable dwellings in these suburbs.
“We sell a lot of one-bedroom apartments to first-time buyers because they are generally more affordable while close to everything they need. They don’t need a vehicle, so lack of a car space reduces the price,” he said.
Additionally, Banning said investors have also been eyeing the areas, increasing demand and competition.
“The first-time buyers and investors are fierce competitors for the one- and two-bedroom CBD apartments.”
“CBD-buying can be a smart long-term financial move because property values in cities often rise faster,” he concluded.
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