And The Winner Is... South East Queensland
The cheers rang out across Kings Beach Amphitheatre on Wednesday when the news we’d all been waiting for was announced. The 2032 Olympic and Paralympic Games will be held in South East Queensland!
A sea of green and gold erupted with joy at the historic Olympic live event with the decision widely tipped to deliver not only the ultimate sporting showcase, but an investment and tourism bonanza for the region lasting decades.
Our Mayor, Mark Jamieson, has emphatically welcomed the decision, telling Sunshine Coast News it would “set in motion extensive detailed planning for staging of the Games and support the liveability and connectivity of South East Queensland, which is one of the fastest growing regions in Australia.”
“The world is coming to our community,’’ he said.
The Sunshine Coast will play an integral role in Brisbane 2032. It will be home to four key venues and several sporting events during the Olympic Games. These include the Kawana precinct for football and basketball, Alexandra Headland for kiteboarding and road-based events such as cycling and marathons, Parklands for mountain biking, and the Olympic Village to be located in the heart of the new Maroochydore city centre.
The Sunshine Coast Council reports that an independent economic assessment has indicated the Games will deliver a total benefit of $8.1 billion for Queensland and $17.61 billion for Australia. The report also found that the Games would create 91,600 full time equivalent jobs for Queensland.
The lasting tourism benefits as our stunning local environment is showcased to the world will also be immense. There is every chance this could mean gold for the southern Sunshine Coast property market which is already experiencing the strongest growth in Queensland for land and house prices, according to the latest UDIA figures.
The market update published this month showed house prices haven grown 11.9% to $705,000 over the past 12 months whilst land rose 12.2% to $310,250 in the same period.
CoreLogic has reported that the lessons learned from when Sydney hosted the Games in 2000 is that Brisbane and surrounds could be in for a property demand frenzy leading up to and after the Olympics, driving growth rates even higher.
It is definitely going to be a very interesting race to watch!