The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 THE UNMISSABLE EVENT FOR PROPERTY PROFESSIONALS IN THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 UNMISSABLE FOR PROPERTY PROFESSIONALS
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
59
print
Print
ResidentialRenee McKeownMon 02 Aug 21

Brisbane Olympics to Push Property Market’s Limits

f7e1b6e5-38e3-455e-9fb4-85279f2efe16

Brisbane house prices will hit the $1-million median well before the 2032 Olympics with suburbs near venues tipped to move up to $3.9 million.

Property projections from PRD Research indicate the median price would reach $1.7 million by 2033 and would be “immensely” boosted on the Gold and Sunshine coasts.

PRD chief economist Diaswati Mardiasmo said it was clear that hosting major events had served the property market well.

“The year after the 2000 Sydney Olympics, Newington (site of the athletes’ villages) and surrounding suburbs’ median house prices grew by 13.4 per cent,” Mardiasmo said.

“Median house price growth was not limited to the year after the Olympics. It grew by 38.5 per cent two years after, and 66.4 per cent three years after.

“The year after World Expo 88, South Bank and its surrounding suburbs grew by an average of 19.1 per cent and by 10.3 per cent after G20 Summit 2014.”

Brisbane property price predictions: Olympics 2032

Suburb20112021Projected Growth G20 Average
Hamilton house $824,000$1,650,000$3,990,670
Tennyson house$515,000$970,000$2,052,520
Chandler house$1,040,000$1,600,000$3,385,600
Woolloongabba house$623,000$951,000$2,012,316
South Brisbane house$805,000$1,210,000$2,560,360
Redland Bay house$450,000$638,000$1,350,008
Ipswich house$325,000$435,000$1,052,086
Herston house$697,000$908,000$1,921,328
Spring Hill house$950,000$1,150,000$2,433,400
Coomera house$353,000$550,000$1,163,800
Broadbeach units$463,000$625,000$1,322,500
Alexandra Headland house$570,000$1,110,000$3,348,760
Twin Waters house$651,000$1,077,000$2,278,932

^Source: PRD Research, AMP Pricefinder

“Bearing in mind the 2032 Olympics are still 11 years away, and based on how the Brisbane market is travelling, the potential to eclipse this price point is high,” Mardiasmo said.

“Regardless of the calculation method, the conclusion points us to Brisbane becoming a $1-million median house price city sooner rather than later. ”

Domain’s latest house price report showed median house price in Brisbane was $678,236, up 13 per cent annually.

Meanwhile, prices on the Gold Coast and Sunshine Coast hit $792,000, up 18.2 per cent on last year, and $825,000 up 23.1 per cent, respectively.

Domain chief of research Nicola Powell said at the moment, low listing numbers and interstate migration were driving the price hike.

“It suggests that upgrading homeowners are fuelling house prices, as well as interstate and expat buyers moving from more expensive cities,” Powell said.

Melbourne and Canberra officially joined Sydney in the $1-million home club in the July results.

ResidentialAustraliaGold CoastBrisbaneReal EstateSector
AUTHOR
Renee McKeown
More articles by this author
ADVERTISEMENT
TOP STORIES
North Melbourne Craigieburn HB Land EDM
Exclusive

Tribunal Finding Cruels 1000-Home Melbourne Plan

Clare Burnett
5 Min
Roseville Hycorp EDM
Exclusive

Ku-ring-gai TOD Backflip Slashes 1500 Homes from Under-Way Developments

Clare Burnett
7 Min
Exclusive

Housing Fix Sprint Begins with New Top Planner Pushing 13 Regional Plans

Phil Bartsch
8 Min
Elanor Investors Tweed Mall masterplan
Exclusive

Tweed Marks Time as $900m Mall Redevelopment Goes Quiet

Renee McKeown
6 Min
High-density residential construction in Melbourne
Exclusive

Stabilising Conditions in Melbourne Bring Hopes of Improved Feasibility

Leon Della Bosca
6 Min
View All >
North Melbourne Craigieburn HB Land EDM
Exclusive

Tribunal Finding Cruels 1000-Home Melbourne Plan

Clare Burnett
RBA announce May rate cut HERO
Policy

‘Undervalued’ Melbourne to Reap Rate Cut Advantage

Leon Della Bosca
Victorian treasurer Jaclyn Symes' first budget has made infrastructure a winner but left the property sector behind.
Policy

Victoria’s Infrastructure Program Wins Budget Blessing

Marisa Wikramanayake
But treasurer Jaclyn Symes’ first budget has been labelled by some in the industry as a stop sign for the property secto…
LATEST
North Melbourne Craigieburn HB Land EDM
Exclusive

Tribunal Finding Cruels 1000-Home Melbourne Plan

Clare Burnett
5 Min
RBA announce May rate cut HERO
Policy

‘Undervalued’ Melbourne to Reap Rate Cut Advantage

Leon Della Bosca
6 Min
Victorian treasurer Jaclyn Symes' first budget has made infrastructure a winner but left the property sector behind.
Policy

Victoria’s Infrastructure Program Wins Budget Blessing

Marisa Wikramanayake
4 Min
Nettleton Tribe Architects' render for Fabcot's next Woolworths distribution and customer fulfillment centre at 144 Wicks Road in Macquarie Park in Sydney.
Industrial

Fabcot Files Plans for Macquarie Park Warehouse

Marisa Wikramanayake
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/brisbane-olympics-property-price-prediction