Olympics set to spark property boom across Brisbane’s inner suburbs

Brisbane suburbs surrounding Victoria Park and other key 2032 Olympic Games venues are tipped to experience strong property price growth, with analysts predicting values could nearly double over the next decade off the back of billions in infrastructure investment.

Early projections suggest suburbs with Olympic infrastructure could outperform the 79 per cent surge recorded in Sydney’s Strathfield in the lead-up to the 2000 Games. PropTrack data already shows prices in Brisbane are under pressure, with citywide home values climbing 80 per cent since the pandemic, and regional Queensland up 81.4 per cent.

Suburbs surrounding Victoria Park – including Herston, Kelvin Grove and Spring Hill – are among the most tightly watched. Spring Hill unit prices have soared 116.6 per cent since 2020 alone, bolstered by early development activity and investor interest.

According to advisory firm Urbis, infrastructure-driven “lifestyle uplift” is a proven catalyst for long-term property growth. Director Paul Riga said Olympic investment often leaves a lasting impact.

“We know from other host cities that long-term growth in property values can be linked to the lasting infrastructure improvements made for the Games,” Mr Riga said.

“Property values in Sydney lifted significantly in the seven years prior to the 2000 Olympic Games, increasing 8 per cent per annum across median apartment prices and 7.7 per cent per annum across median house prices.”

“Five years after the Games, median apartment prices grew a further 7.6 per cent annually, and house prices rose 12.8 per cent.”

Place Estate Agents CEO Damian Hackett expects “strong growth over the next seven to 10 years” in eight key inner-city suburbs: Herston, Kelvin Grove, Spring Hill, Bowen Hills, Fortitude Valley, Woolloongabba, East Brisbane and Kangaroo Point.

“These large-scale projects drive interest and activity in surrounding areas,” Mr Hackett said.

Among the developments likely to benefit is Oria, a residential project opposite Victoria Park by developer Keylin. Managing director Louis Cheung, who has personal ties to the Spring Hill area, said the precinct was uniquely positioned for long-term capital growth.

“We’ve always known Spring Hill was an incredible location,” Mr Cheung said.

“The hype is one thing, but the benefits are real and lucrative. Sydney’s experience was mirrored in London and Beijing, and it will be the same case for Brisbane.”

Oria, designed by MAS Architecture and delivered by builder CoStruct, will launch next month, offering 132 art-deco inspired residences with rooftop amenities and direct access to the future Olympic stadium and aquatic centre.

Further growth is expected in suburbs such as Bowen Hills, home to the Athletes’ Village, and Woolloongabba, where a major urban renewal will follow the Games. Place’s analysis highlights that post-Olympics, several precincts will feature new apartment stock and build-to-rent housing to ease rental market pressure.

Outside Brisbane, parts of the Gold Coast, Sunshine Coast, Cairns, Townsville, Mackay, Rockhampton and Maryborough may also see uplift, although figures have yet to be released for regional centres.

The Olympic-led transformation is already reshaping Brisbane’s inner city and appears poised to deliver a lasting legacy for residents and investors alike.