Research identifies 22 suburbs set for growth ahead of 2032
Southeast Queensland’s real estate sector is expected to undergo significant changes in the lead-up to the 2032 Olympic and Paralympic Games, with 22 suburbs identified as areas likely to experience strong growth, according to new research from iBuyNew and Hotspotting.
The analysis suggests that the region’s property market will be influenced by the games, with the potential for notable increases in home values both before and after the event. The study points to major infrastructure projects, including $7.1 billion in new and upgraded Olympic venues and additional investment in transport, as key drivers of heightened interest from buyers and investors.
“The three fundamentals – strong infrastructure investment, population growth, and rental demand – are aligning perfectly,” said Daniel Peterson (pictured left), chief executive of iBuyNew. “Smart property buyers will target growth corridors and Olympic precincts with properties near transport and lifestyle hubs offering excellent long-term upside.”
Terry Ryder (pictured right), director at Hotspotting, noted that property prices in the region have already risen since Brisbane was named host city. “Median house prices in Brisbane, the Gold Coast, and the Sunshine Coast have jumped from below $750,000 to over $1 million, with growth between 56% and 66%,” he said.
“Unit prices have seen even stronger gains, rising from under $455,000 to above $650,000, which is an increase of up to 68%. Infrastructure spending is what turns a location into an outperformer – and Southeast Queensland is experiencing that more than ever – with the biggest impact on property markets occurring in the lead-up to the games.”
The research highlights several suburbs expected to benefit from Olympic-related development:
- Brisbane: Bowen Hills, Spring Hill, Newstead, Fortitude Valley, Woolloongabba, East Brisbane, Coorparoo, Stones Corner, Dutton Park, and Kangaroo Point, due to their proximity to key venues and urban renewal projects
- Gold Coast: Southport, Labrador, Benowa, Ashmore, Molendinar, and Arundel, with uplift expected from new facilities such as the Gold Coast Arena and the Athletes Village
- Sunshine Coast: Maroochydore, Kawana, Yandina, Warana, Nambour, and Bokarina, set to gain from stadium and cycling facility upgrades
Peterson said that while the wider region will benefit, the most significant returns are likely in suburbs targeted for new infrastructure and urban renewal. “These areas are where long-term capital growth will likely be most pronounced,” he said.
“For those looking to invest soon, properties in suburbs with solid public transport and lifestyle hubs near key venues will offer excellent long-term upside. Apartments and townhomes close to universities, hospitals, and future employment zones will continue to be in high demand with renters and buyers. Getting in the market now allows property buyers to ride the full wave of Olympic-led growth over the next decade.”
Ryder added that previous Olympic host cities have seen strong property price performance. “Barcelona saw a 130% increase in prices before the 1992 Games, while Sydney’s median house prices rose 88% in the five years leading up to the 2000 Olympics,” he said.
“London’s Olympic boroughs outperformed the city average. All of these gains were driven by infrastructure upgrades, urban renewal, and global attention. We’re seeing a perfect storm of conditions at present – low vacancy rates, rising rents, and surging demand – which means that investors who wait may find themselves priced out of the best opportunities as the games draw nearer.”
For mortgage brokers, these trends are likely to drive increased demand for their services as buyers and investors seek financing in growth suburbs. Brokers can expect more enquiries and heightened competition as clients look for guidance on timing and location for property purchases ahead of the games.
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