City Beat March 2025: Olympics announcement to drive further growth in Brisbane property market
Is Brisbane's property market growth sustainable?
We're still seven years away from the 2032 Brisbane Summer Olympics, and in the last two years alone, Brisbane dwelling values (houses and units combined) have risen by 24.5 percent.
Last year saw the biggest increase in units since the late 1980s, with values growing by 16.6 percent in 2024, bringing the median unit value to $680,000.
Three months into 2025, and not much has changed.
CoreLogic's latest home value Index shows another 0.7 percent gain in unit values in March, following gains of 0.7 percent in February and 0.6 percent in January. Now, the median unit value is approaching $700,000.
With billions of dollars set to be poured into major infrastructure projects across Brisbane, a forecasted strong increase in population, and an ongoing shortage of new properties coming to market, there's no reason why Brisbane can't continue to outperform the rest of Australia.
What happened in Brisbane’s off the plan apartment market in March?
Brisbane was spurred again with another huge government announcement. It was revealed Victoria Park, on the edge of Spring Hill, will be hub of the 2032 Brisbane Summer Olympic Games.
A new 63,000-seat stadium will be delivered and will become the new home of the Brisbane Lions, Brisbane Heat, and Queensland Bulls. There will also be a new National Aquatic Centre at Centenary Pool in Spring Hill and a major upgrade of the Queensland Tennis Centre.
While a dedicated Brisbane Arena is no longer required for the Games, the government is facilitating its delivery by the private sector at the GoPrint site in Woolloongabba.
Premier David Crisafulli emphasised that the new venues and upgraded facilities would attract world-class events beyond 2032, ensuring a lasting impact on Brisbane.
Read more: Let the Games begin: QLD Government reveals 2032 Brisbane Summer Olympic Games plans
Limited new apartment supply is still the story of Brisbane, although prospective new apartment buyers were treated to a rare new project launch.
Local developer DeMartini Fletcher launched their Stones Corner development, Corner House, 88 one, two, and three-bedroom apartments starting from $765,000.
DeMartini Fletcher has collaborated with Ellivo Architects on the design which aims to honour the heritage of the localicty while bringing in a contemporary twist.
Residents will have access to a rooftop retreat designed as a lifestyle-focused extension of their homes. The roof will feature a resort-style pool, spa, sauna, ice bath, gym, yoga lawn, residents’ herb garden, and barbecue facilities, all with sweeping views of Brisbane’s skyline.
Corner House will integrate sustainability principles, with a focus on climate-responsive design and urban greenery.
Read more: DeMartini Fletcher launches Corner House apartments in Stones Corner
While a lot of new apartment developments are going through the development application process or locking in build contracts before becoming available for buyers, developers are continually padding out their pipelines.
Silverstone Developments sees more value in apartments than offices, so they've changed their plans for their prime riverfront Coronation Drive site in Milton. They now want to develop a 30-level building with 192 apartments.
Targeting owner-occupiers, the development will offer two and three-bedroom residences with rooftop amenities, including a lap pool and gym.
Read more: First look: Silverstone Developments to turn office to apartments on Milton riverfront site
