Login
Will Brisbane’s Olympics momentum surpass Sydney’s price boom?
Brisbane and wider South-East Queensland are set to see a property boom leading up to the Olympics, as major infrastructure and tourism drive growth in key suburbs. What’s the expert forecast on when and where investors should be buying?
The 2032 Brisbane Olympic Games will spark a wave of property price growth across key areas amid a $7.1 billion Olympic infrastructure rollout and billions more in transport and precinct upgrades.
Across Brisbane, the Gold Coast, and the Sunshine Coast, numerous suburbs have been identified as capital growth spots due to their proximity to Olympic venues – but is there enough momentum to overtake the Sydney market?
PRD chief economist Dr Diaswati Mardiasmo said Brisbane is currently seeing a strong property market, growing at an average of 6.5 per cent to 7 per cent.
The growth came on the back of a post-COVID-19 boom, during which some suburbs grew up to as much as 20 per cent or 25 per cent.
“It’s slightly higher than the usual Brisbane market, but it is a strong Brisbane market right now,” Mardiasmo said.
She said the momentum is forecast to continue in the lead-up to and even following the Olympic Games, most likely ramping up in the two or three years before and after the event.
Michael Hatzifotis, director at Place Estate Agents South Brisbane, said his agency is seeing strong buyer demand, particularly near the South Bank precinct and South Brisbane West End precinct.
“People are starting to come off that peninsula down into that South Brisbane West End – I would say South Brisbane and South Bank [are] becoming more popular than Kangaroo Point,” he said.
He added that there have been strong auctions in the past few days, with properties selling for above market price and homes often receiving nine or 10 offers.
“It’s kind of out of control a little bit. So I’m kind of thinking that the short supply in units and houses and the high demand are just going to continue pushing prices up.
“Yields are going up consistently as well, so we’re just going to see it all keep moving upwards,” he said.
As time goes on, Mardiasmo projected areas around major Olympic venues could soar to 10–13.4 per cent, including Herston, Kelvin Grove, Spring Hill, Woolloongabba, East Brisbane, and Kangaroo Point.
“They don’t have a lot of houses; most of [them] are units and a lot of the new buildings [are] kind of already using the Olympics as part of their marketing,” she said.
In addition to the current strength in the Brisbane market, another reason 10–13.4 per cent growth is possible is that Sydney saw the same during the 2000 Olympic Games.
“Back in 2000, 2001, Newington and surrounding suburbs of Sydney Olympics – they had their median house price grow by 13.4 per cent within that year,” Mardiasmo said.
“Moreover, the median house price growth continued, with prices rising a further 38.5 per cent in the two years and 66.4 per cent in the next three years.”
Elsewhere in the world, Olympic host cities have historically shown significant rises in property prices and continued momentum even years after the Games.
During the 2012 Games, London saw a 38 per cent increase in London’s median house price over the five years ending 2013, according to Propertyology.
According to data from Savills, Beijing saw a significant impact after the city hosted the 2008 Games, with residential prices up 74 per cent since the event, and prices rising 17 per cent in 2016 alone.
Amid projections for strong growth, one question raised is whether Brisbane could overtake Sydney as the most expensive Australian capital to buy a home.
As of September 2025, Sydney’s median house value currently sits at $1.52 million, while its median unit price sits at $873,838, according to data from Metropole Property Strategists.
Meanwhile, Brisbane’s median house prices are currently $1,040,651, while its median unit prices are $740,992.
Mardiasmo did not entirely rule out Brisbane overtaking Sydney, but said it is not definitive.
“The house price in the Gabba is already 1.3 per cent. So if you multiply 13.4 per cent growth on top of that, that takes you to 1.6 per cent, and that’s kind of pretty much where Sydney is at the moment,” she said.
She also said Sydney is growing at a slower pace than usual, at 2–3 per cent, rather than its typical 8–9 per cent, which is higher than Brisbane.
“[In] Brisbane at the moment, the growth is at almost double [that] of Sydney at 6 per cent to 7 per cent, whereas Sydney is at 2 per cent to 3 per cent,” she said.
“The possibility is always there, especially just because of the way that Brisbane is travelling right now, and the projected percentage increase when an Olympics happen.”
However, Mardiasmo pointed out that, regardless, there is still a significant gap of around $500,000 between Sydney and Brisbane’s property values.
“Pre-COVID, Brisbane [was] pretty much half of Sydney, whereas now, we’re about 35 [to] 40 per cent cheaper than Sydney. So the gap is closing, but there’s still a considerable gap,” she said.
The question that remains for investors watching the Brisbane property market is: Where to buy to ensure the highest returns?
Prices are set to soar in areas slated for Olympic infrastructure development, including Herston, Kelvin Grove, Spring Hill, Woolloongabba, East Brisbane, and Kangaroo Point.
Mardiasmo’s advice is to look for nearby, less expensive alternatives, as anywhere within five to 10 kilometres from the Olympic suburbs will likely still experience the benefits.
Mardiasmo also advised investors to pay attention to other areas where there will be Olympic events and infrastructure, including Ipswich, Logan, Sunshine Coast, and the Gold Coast.
“So actually really mapping out where all of the Olympic matches are going to be,” she said.
“And when I say matches, I don’t just mean stadiums. I also mean anything that’s about to get refurbished or renovated for the Olympics, like halls and sporting places, that kind of stuff.”