House prices are expected to soar Brisbane hosts the 2032 Games with properties near the Gabba tipped to benefit the most.
House prices are expected to soar Brisbane hosts the 2032 Games with properties near the Gabba tipped to benefit the most.

Games to be Olympic gold for homeowners

Downsizers Peter and Michele Jones know they could be sitting on a potential gold mine if Brisbane hosts the Games but at this stage of their life they're looking for a sea change.

Their immaculately presented home sits just 300m from the Gabba, earmarked for a $1 billion upgrade if Brisbane hosts the 2032 Games.

The Gabba precinct is expected to become a property gold mine if Brisbane wins the right to host the 2032 Games. Picture: Supplied / Ray White
The Gabba precinct is expected to become a property gold mine if Brisbane wins the right to host the 2032 Games. Picture: Supplied / Ray White

It's also within 900m of the Woolloongabba Cross River Rail station which is under construction.

Experts predict house prices could soar as much as 140 per cent over the next decade, based on the extraordinary median house price surge in Sydney for the 2000 Games.

However for the Jones', it's time to bade farewell to 14 Kennedy Terrace, East Brisbane after eight years.

The two-bedroom, two-bath, two-car abode on 506 sqm would ideally suit a young professional couple who love their sport and entertaining friends, said Mr Jones said.

Peter and Michele Jones are looking for a seachange although they realise they’re house would be ideal for anyone wanting to cash in on the Olympic Games should Brisbane be the host city: Picture: Jamie Hanson
Peter and Michele Jones are looking for a seachange although they realise they’re house would be ideal for anyone wanting to cash in on the Olympic Games should Brisbane be the host city: Picture: Jamie Hanson

"We are looking to go to the Sunshine Coast and getting out of the hustle and bustle of the city and do a bit of travelling," he said.

"One of the highlights is how close it is to the Gabba, you only have to walk around the corner basically, and we have views of the city and really suit a young professional couple.

"There's a lot of excitement about the potential rebuild of the Gabba and you have Cross River Rail and the walkway from Kangaroo Point to the city being built. We love the place."

The interior of 14 Kennedy Terrace, East Brisbane which is up for auction on Saturday. Picture: Supplied / Ray White
The interior of 14 Kennedy Terrace, East Brisbane which is up for auction on Saturday. Picture: Supplied / Ray White

Ray White real estate agent Angela Mastrapostolos said there has been an extreme amount of interest in the property.

She said that surprisingly, the potential of Brisbane hosting the Games and what it may mean to property prices has yet to sink in with many prospective buyers.

"We've had a lot of first home buyers come through but also interest from the Gold and Sunshine Coasts," Ms Mastrapostolos.

* 14 Kennedy Terrace, East Brisbane will go to auction on site May midday, Saturday, May 1

Originally published as Games to be Olympic gold for homeowners



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