Is Queensland heading for a boom?

More than 20,000 people a year are expected to cross the border, with Queensland gaining the most residents as they leave other states in the coming years.

In addition, the state is expected to grow more quickly than previously anticipated, surpassing 5.5 million citizens in one rather than two years, according to the federal budget.

Over the next four fiscal years, the federal government will provide a total of $1.1 billion for venue infrastructure as the area gets ready to host the 2032 Olympic and Paralympic Games.

Property investors are interested in Queensland suburbs because most experts believe that the possibility of hosting the Olympic Games in 2032 will boost demand for residential real estate.

PRD Chief Economist Dr. Diaswati Mardiasmo, predicted that median home values could rise to $1.4 million by 2032, more than doubling from current levels.

This growth rate, according to Dr. Mardiasmo, would be consistent with the market's previous performance during the G20 summit in Brisbane in 2014, when housing prices rose 112.7% over a 12-year period from 2003, when the event was announced, to 2015, the year after it took place.

Tim Lawless, research director at CoreLogic, said Brisbane might be anticipating a performance that compares favourably to that of the Sydney 2000 Olympics.

Sydney home values increased by 60% between the time the Olympics were announced in September 1993 and the time they were held in September 2000, nearly twice as much growth as was seen in the combined benchmark region of all capital cities, which grew by 34.6%, according to CoreLogic data.

The Sydney Olympic village's location, Newington, fared extremely well during the competition.

The number of sales in Newington and its neighbouring suburbs increased by 58.0% the year after the Sydney Olympics 2000, and the median house price increased by 13.4%.

If you're interested in learning more about investment opportunities in Queensland, we'd be happy to help you reach your goals. Get in touch with us today to schedule a free strategy session.