Brisbane is set to host the 2032 Olympics, which is 11 years away, but property investors should already be bracing for its impact on the market.
One exciting aspect of the Olympics’ effect on the property market is that the Games are going to be spread out through different areas — Brisbane, the Gold Coast and the Sunshine Coast, as well as regional areas including Toowoomba, Townsville and Cairns. This means investors with property outside the inner city area are likely to reap some benefits as well, some of which are new infrastructure, new jobs, improved public transport and local road and streetscape upgrades.
While we cannot quantify just yet how the Olympics will impact the market, we know the effects the 2000 Games had in Sydney. Combined with a strong economy and falling interest rates around the same time, the city saw a massive property boom after the Olympics.
Landlords have plenty to look forward to as well. Plenty of new infrastructure means plenty of new jobs. Landlords can expect an increase in rental demands as workers from all over Australia will come in to fill in at least 91,600 new full time jobs as predicted by KPMG modelling.
With significant improvements in lifestyle amenities, tenant appeal will increase in certain suburbs and potential for higher rental returns.
To learn the value of your investment property, head over to our website www.rentalresults.com.au or contact Lauren Robinson on 0731237373