The 2032 Brisbane Olympics

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The 2032 Brisbane Olympics

How will the 2032 Brisbane Olympics contribute to our housing supply?

Hosting the 2032 Olympics in Brisbane is expected to have a significant impact on property prices and housing supply. According to a report from PRD, the event is projected to create around 91,600 jobs, leading to increased purchasing power and demand for housing. Based on previous international events, median house prices in key Olympic Games suburbs could see significant growth, with some areas reaching $1 million or more. Housing supply is also expected to increase, as previous host cities have repurposed athletes’ villages into rental and market accommodation. Plans are already underway to repurpose the Northshore Hamilton area and create additional accommodation for the Games. The Queensland State Government aims to use the Olympics as an opportunity to accelerate long-term development plans in the area. Overall, hosting the Olympics presents a golden opportunity to address housing supply needs and leave a lasting legacy for Queensland.

Key Takeaway #1

  • Previous Olympic host cities have experienced a significant increase in housing supply in the year following the games, with Tokyo and Beijing seeing the highest influx of new apartments.

Post-Olympics Housing Supply Examples

Source: PRD, 2022

Key Takeaway #2

  • Hosting an international or sporting event can have a positive impact on property price growth. The extent varies depending on factors such as the event’s location and external forces, including the economic climate, cash rate fluctuations, and investment potential at the time.

South East Queensland: Local Government Areas

Source: PRD, 2022

Key Takeaway #3

  • Brisbane is expected to see a substantial increase in housing supply leading up to the 2032 Olympics, with plans for thousands of new properties and significant investment in the Olympic Village.

South East Queensland: Key Olympics Suburbs

Source: PRD, 2022

Plans for Brisbane Olympics mapped out at 2032 Legacy Forum

Source: 7NEWS Australia, 2023

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