- October 5, 2021
- Posted by: pinnacle777
- Category: News
With Brisbane welcoming the Olympic Games after winning the right to host in 2032. What impact does this upcoming event have on house prices leading up to the Olympics?
If we look back to the Sydney Olympics in 2000, house prices the years prior increased by a whopping 88% in the five years from 1996-2001. In 2000, you needed around $312,000 to purchase a property in Sydney, with the number increasing to $575,900 in 2010 and today you need over $1 million to purchase a property in Sydney.
Brisbane’s current median house price of $678,000 is less than half of Sydney’s and on par with that for Adelaide and Hobart. But experts are saying…. don’t expect it to stay that way. By the time the 2032 Olympic Games come to town, the figure is likely to be $1.5 million.
So with this in mind, don’t get to 2032 without taking the necessary steps to ensure you take full advantage of what the data is pointing could happen by the time the Olympics come to Brisbane.
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