How SEQ property markets will rise with the 2032 Olympics
Updated: May 18, 2022
It was only two weeks ago that Brisbane was announced as the hosting city for the 2032 Olympic Games. Already, this announcement is expected to spark greater economic opportunities across the region of South East Queensland, with property markets predicted to experience growth never seen before!
Property experts have started to weigh in on how they believe the markets will be set to perform as a result of this decision from the IOC. The already, well-performing SEQ market is set to see exponential growth and now is the time to cash in on it.
Infrastructure developments to influence a property investment boom
As like any hosting city of past Olympic games, billions of dollars are expected to be poured into local infrastructure developments in the Brisbane region. Economic principle states that for those looking at buying property or cashing in on real estate investment opportunities; infrastructure plays a huge role in determining capital growth and rental yields.
In a recent CoreLogic article, Tim Lawless explains, "large infrastructure projects tend to have a positive influence on housing prices, with the extra requirement for workers creating additional demand for housing during the construction process."
Following this statement, Lawless continued to state that large infrastructure developments leads to the uplift of house prices.
When will the growth occur?
It's expected that the growth will be seen in the lead up to the games, rather than during or after it. Terry Ryder predicts that it will be the 10 years before that activity will begin to take place.
Other sources believe that although growth is expected to occur in the decade prior to the games, the most significant growth in property markets will occur the year before. PRD Research chief economist, Dr Diaswati Mardiasmo believes that the growth that could be seen in the year leading up to the 2032 games could be in the double figures.
Following the 2000 Olympic Games in Sydney, house prices in some Sydney suburbs were 13.4% higher than they were prior to the games. It was also found that real estate sales were 58% higher. 32 years later, this may provide some insight into how the markets in Brisbane could perform.
So what does that mean for those interested in buying a house and making the most of real estate investment opportunities before prices soar any further?
As we've been saying for a while, if you've been looking at buying an investment property or buying a house as an owner-occupier, now is the time to do so. Naturally, house prices have started to experience growth in the last nine months throughout Australia. This is especially relevant in the already thriving South East Queensland region.
Those who cash in on these opportunities now could very well be subject to greater rental yields and capital growth. Thus, supporting their means of wealth creation on their real estate investing journey.
Take action, now!
If you're thinking about buying property in SEQ or to make those real estate investing dreams a reality, we're here to help! With access to plenty of house and land packages in the South East Queensland region, we could get you in the market to reap the benefits of what these games have to offer.
REIF are assisting clients across the country on their pursuit to wealth creation and we would love to be able to assist you too! To learn more, please feel free to reach out on the details listed or download our eBook, Building Wealth Through Property.
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