If you’d played an ‘Olympic’ drinking game at one of my auctions over the last couple of years, taking a shot every time I mentioned the Olympics, you’d be legless!
Well I think things are only going to get worse because I’m even more excited now I know where the stadiums are going to be. The Olympics are arguably the best marketing event a city could ask for, especially for regions that can offer tourism and lifestyle benefits beyond just the sport. As residents, I don’t think anyone doubts that the Brisbane lifestyle location will pass the “pub test”. With recent announcements about stadium locations, many are curious about where to buy and how property prices will be impacted.
To me the obvious areas are Herston, Kelvin Grove and Spring Hill. They are currently undervalued compared to their neighbouring suburbs and the new infrastructure will bring the hype and “high street” vibe that those suburbs need. When assessing market movement, it starts with the construction phase. Construction means jobs, which drives up local rental prices as people want to live close to work. Other areas that they will undergo major upgrades including transport, accommodation and stadiums, will also see price growth.
Someone recently said that less than three per cent of the world’s population could currently pinpoint Brisbane on a map, but after 2032, that number could rise to 30 per cent! I am not sure if that came from AI, the IOC or just someone at a bar but it doesn’t sound that far-fetched.
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A mate of mine called this week wanting to know how he could use his equity to buy an investment property and whether I thought that was a good idea. He purchased his property about 15 years ago and he has done a cosmetic renovation. With the surge in prices … Read more