Brisbane’s unique combination of affordable property, attractive lifestyle, and significant population growth has established it as a booming hub for property investment.
A tight rental market and high construction activity have significantly influenced the rise in Brisbane house prices. At the moment, the total supply of houses for sale is about 40% lower than the five-year average for this time of year. As more people flock to the Queensland capital, housing demand continues to outstrip supply, this, combined with low interest rates, is creating a perfect storm for property investors in Brisbane.
The upcoming 2032 Olympic Games are anticipated to exert a substantial influence on Brisbane’s property market. Drawing from the experience of Brisbane’s Expo 88, where house prices experienced a remarkable surge of 238% during the 11-year period preceding the event, property experts predict that Brisbane’s 2032 Olympics may have a similar or even greater impact on house prices.
Proximity to the planned venues is expected to yield the greatest advantage amidst the flourishing prices. With Olympic facilities strategically planned throughout south-east Queensland, investors have ample opportunities to capitalize on the expected boost in property values.
Another critical factor driving Brisbane’s property prices is the city’s growing population. Modelling from the Australian government’s Centre for Population reveals that by the time the 2032 Olympic Games rolls around, Brisbane is expected to have a population of over 3 million people, further increasing demand for housing in the city. This population growth is expected to continue for the next decade, fueling housing demand and driving up property prices even further.
FOMO, or the Fear of Missing Out, has become an increasingly prevalent sentiment in Brisbane’s property market, further exacerbating the already high demand for housing. This sense of urgency to secure a property before prices rise even further has led to intense competition among buyers, resulting in very strong auction clearance rates.