Brisbane 2032: House prices to surge within 10km of stadiums, triggering homeless body warning to govt

A major house price surge is predicted after the Brisbane 2032 Games, with some suburbs set to see increases over 14 per cent, triggering an impassioned call from the peak housing and homelessness body.

Fireworks viewed from Emporium Hotel over Southbank as Brisbane is named for the 2032 Olympics. Picture: Peter Wallis

Queensland’s peak housing and homelessness body has warned of a major house price surge following the Brisbane Olympic and Paralympic Games, urging the government to include affordable homes in its 2032 legacy plan.

QShelter acting chief executive Jackson Hills said capital cities hosting the Games had a track record of failing to build or convert athletes villages into affordable housing.

He warned the state government to not repeat the mistake.

“Research from firms like PRD also shows us that previous Olympics and Paralympics have caused considerable spikes in house prices in host cities, particularly within a 10-kilometre radius of stadiums,” he said.

“The average price spike was 14.3 per cent in the 12 months following the event.

“Without proper planning, Queensland risks escalating housing costs and rents, pushing more households towards housing insecurity and homelessness as we approach the 2032 Games.”

Of the total 9000 built within Olympic Park, less than 200 were offered to vulnerable residents at cheap rent rates, Mr Hills said, while promises to convert the East London athletes village from the 2012 Games went unfulfilled.

Tents at Musgrave Park in South Brisbane, which is one of a number of sites that has seen increased homelessness in the cost-of-living crisis.

Mr Hills listed several policy initiatives he said would help leverage the 2032 Games to improve housing outcomes.

They include determining the number of hotels and boarding houses currently relied on for temporary and supported accommodation expected to be gentrified ahead of the Games, accelerating development of permanent supportive housing and confirming if athlete villages set for development in Hamilton Northshore, Robina and Maroochydore can be used as social, affordable and accessible housing both before and after the Games.

He also called on the government to establish a housing trust “linked to the Games’ procurement and commercial activity” to be used to invest in housing and community infrastructure.

It comes after the Opposition this week demanded the government match its funding commitment for homelessness services as outlined in the former Homes for Queenslanders plan.

Properties in suburbs within 10km of stadiums are set to see the biggest increases. Picture: Brendan Radke

Labor has argued that while it had budgeted $168m for services over the forwards, the LNP had failed to include the promised 20 per cent funding uptick in its election costings.

Opposition Housing spokeswoman Meaghan Scanlon urged the government to include the additional $45m in its upcoming mid-year budget review.

“The most recent data shows that Queensland (homelessness services) has supported double the amount of people than in Victoria and New South Wales, despite the fact that we have a smaller population size,” she said.

“This is a shocking blow for those services who do really important work for vulnerable Queenslander.

“It is disrespectful and really cold for those rough sleepers.”

Housing Minister Sam O’Connor refuted the claims, saying the LNP would uphold its commitment to increase homelessness services funding by 20 per cent.