Latest news with #BrisbaneOlympics
Perth Now
3 days ago
- Business
- Perth Now
‘Competing hard': Olympic house price battle
The Brisbane Olympics continue to loom as a potentially massive upward driver of house prices. Speculation is rife about just how much the Games will push up prices in Brisbane in particular. As soon as the long-awaited venues were confirmed in March, realtors began promoting their properties as within the 'Olympic precinct'. Finder research suggests 1.5 million people would be looking to buy in Brisbane between now and the 2032 Games. 'The ripple effect on the local property market, especially in Brisbane's inner and middle-ring suburbs, cannot be underestimated,' Australian Property Investor magazine said in April. A new stadium will be built at Victoria Park for the Brisbane Olympics. Queensland government Credit: Supplied Once a golf course and now a sprawling public park, the Victoria Park precinct is tipped to turbocharge Brisbane house prices. NewsWire / John Gass Credit: News Corp Australia Propertytology managing director Simon Pressley tempered the huge expectations this week though, downplaying estimates Brisbane house prices would double in the next seven years. 'No guarantee,' he told Channel 7 on Tuesday morning. 'Property markets are obviously very, very complicated. 'There's no precedent with past Olympic Games around the world that property booms always happen.' The Sydney 2000 Games did spark a property boom though, but the NSW economy and the monetary policy of the time were larger factors for the boom, Mr Pressley said. Persistent community opposition to a new Brisbane stadium was ignored by the state government. NewsWire / Tertius Pickard Credit: News Corp Australia 'Broadly, for the whole state of Queensland, the outlook for its property market for the foreseeable future looks to be strong,' he said. 'Buyers are already competing very hard for a small volume of properties for sale.' The latest national figures show Brisbane's median dwelling value has increased 7.1 per cent in the past year to $918,000. Of the capital cities, only Perth prices have gone up more in the past 12 months. Regional South Australian prices have shot up the most. In March, the Queensland government unveiled plans for a new Olympics precinct in Brisbane. 'There's going to be a lot of construction obviously with various stadiums and arenas built all over the state,' Mr Pressley said. 'Skilled labour is going to be a big challenge for the Queensland government as well.'
News.com.au
3 days ago
- Business
- News.com.au
‘Competing hard': Brisbane Olympics house price battle looms
The Brisbane Olympics continue to loom as a potentially massive upward driver of house prices. Speculation is rife about just how much the Games will push up prices in Brisbane in particular. As soon as the long-awaited venues were confirmed in March, realtors began promoting their properties as within the 'Olympic precinct'. Finder research suggests 1.5 million people would be looking to buy in Brisbane between now and the 2032 Games. 'The ripple effect on the local property market, especially in Brisbane's inner and middle-ring suburbs, cannot be underestimated,' Australian Property Investor magazine said in April. Propertytology managing director Simon Pressley tempered the huge expectations this week though, downplaying estimates Brisbane house prices would double in the next seven years. 'No guarantee,' he told Channel 7 on Tuesday morning. 'Property markets are obviously very, very complicated. 'There's no precedent with past Olympic Games around the world that property booms always happen.' The Sydney 2000 Games did spark a property boom though, but the NSW economy and the monetary policy of the time were larger factors for the boom, Mr Pressley said. 'Broadly, for the whole state of Queensland, the outlook for its property market for the foreseeable future looks to be strong,' he said. 'Buyers are already competing very hard for a small volume of properties for sale.' The latest national figures show Brisbane's median dwelling value has increased 7.1 per cent in the past year to $918,000. Of the capital cities, only Perth prices have gone up more in the past 12 months. Regional South Australian prices have shot up the most. In March, the Queensland government unveiled plans for a new Olympics precinct in Brisbane. 'There's going to be a lot of construction obviously with various stadiums and arenas built all over the state,' Mr Pressley said. 'Skilled labour is going to be a big challenge for the Queensland government as well.'
ABC News
22-05-2025
- Sport
- ABC News
Brisbane 2032 Olympic and Paralympic Games focus shifts to ensuring venues provide 'perfect' platform for athletes
Construction on major venues for the Brisbane Olympic and Paralympic Games could start from next year, the 2032 organising committee president says, despite pressures on the building industry being a "concern". This week the International Olympic Committee (IOC) coordination commission was in Brisbane for the first time, since the city was announced as host in 2021. Newly-appointed coordination commission chair Mikaela Cojuangco-Jaworski said the venues plan announced by the state government in March provided a clear framework. "The focus now shifts to collaboration with the international federations to assess the technical details of the proposed venues to ensure they provide the perfect platform for the world's best athletes," she said. Brisbane 2032 president Andrew Liveris said the venues would need to be finished "well in advance", with completion by 2031 "ideal". He said the current pressures on the construction industry and availability of accommodation were a "concern". "This is an all government problem and we are going to be one of many that go to the queue." The coordination commission visited sites in Brisbane and the Gold Coast as part of its meeting, including Victoria Park, which will be home to the new 63,000-seat stadium. To build the venues, the state government has introduced a bill to parliament to give the Games Independent Infrastructure and Coordination Authority power to override 15 planning laws. This includes the Environmental Protection Act, the Planning Act, the Queensland Heritage Act, the Local Government Act, and the Nature Conservation Act. Ms Cojuangco-Jaworski said the changes were about "fast tracking, and not circumventing". Mr Liveris said the privately-funded Brisbane Arena at Wooloongabba, which the government went to market for this week, would not be needed for the Games. Work is set to begin shortly on finalising the sport program for the Games. Brisbane 2032 chief executive Cindy Hook said the organising committee had been approached by more than a dozen international federations. "We will take a very fair and transparent process to evaluating those to what we can handle, what is relevant and what will have great follower-ship and ignite this nation," she said. "I just want to be realistic, we probably won't add the same six sports that LA did." The additional sports for the 2028 Games are baseball, cricket, flag football, lacrosse, squash and softball. A survey seeking the public's input on the vision for the Games has been launched today. Mr Liveris said that the eventual vision would guide every aspect of Games planning, with a number of guidance documents already established to help develop ideas and creativity. "In seven years' time, the eyes of the world will be on our country and we want to ensure that no matter where you are or where you're from, our collective Games Vision is one of hope, motivation and inspiration," he said.
Sky News AU
01-05-2025
- Business
- Sky News AU
Manufacturing company Downer Group warns staff of potential job cuts as it prepares to build trains for Brisbane Olympics
A New Zealand owned company set to build trains for the 2032 Brisbane Olympics has warned staff of possible job cuts. Downer Group is contracted to build 65 passenger trains for Queensland Rail ahead of the games. The Courier Mail, citing unnamed sources, reported Downer was seeking to cut 35 jobs from its Maryborough site by June, with another 86 set to be axed by the end of the year. However, on Thursday a spokesperson for the company maintained 'no final decision' had been reached over whether it would move to lay off staff. 'Our work on the Queensland Train Manufacturing Program is continuing as expected and we look forward to working with the Queensland government on potential future opportunities,' the spokesperson said. 'The consultation we have commenced with our workforce specifically relates to the cessation of a contract with a private freight operator. 'We want to confirm no final decision has been made and we continue to explore opportunities to fill the gap in work in order to ease any impact on our people.' Maryborough has supported train manufacturing in Queensland for a number of years, with Downer employing as many as 525 people on site in the town. The company signed a $4.6 billion deal with the former Palaszczuk Government in 2023 which aimed to support 800 jobs in manufacturing and construction. Manufacturing Minister Dale Last told Queensland parliament on Thursday he had regularly met with construction contractors within Downer and has visited the Maryborough site. 'The jobs that are being created at the new train manufacturing facility at Torbanlea are secure,' he said. 'They will be secure for the construction of those 65 trains and ongoing under this government.' Mr Last added the state government had awarded a new $120 million contract to Gold Coast company ADCO to build a new rail maintenance facility to maintain passenger trains built under the Queensland Train Manufacturing Program. 'ADCO will build a 20,000 sqm rail maintenance facility that will service and maintain the expanded fleet of 65 new six-car passenger trains being built in Maryborough to service the South-East Queensland rail network,' he said. The 20,000sqm rail maintenance building will support over 100 jobs during construction and around 140 jobs when operational. Billions of dollars are expected to be poured into the Sunshine State ahead of the Olympic Games in 2032. According to the Games Independent Infrastructure and Coordination Authority, the Crisafulli government has accepted estimates the new 63,000-seat Brisbane Victoria Park stadium will cost $3.785 billion. The federal government is also investing upwards of $3.435 billion in key venue infrastructure.
Yahoo
25-03-2025
- Politics
- Yahoo
A new main stadium for the Brisbane 2032 Olympics is unveiled amid a major plan overhaul
BRISBANE, Australia (AP) — A 60,000-seat stadium for the Brisbane Olympics to be built in inner-city parkland has been unveiled as part of a major overhaul of planning for the 2032 Summer Games. David Crisafulli, the third premier of Queensland state in the almost four years since the International Olympic Committee awarded the 2032 Games to Brisbane, announced the latest plans on a rainy Tuesday at a Future Brisbane forum. It's been more than 1,340 days since that IOC decision in 2021, and local organizers still haven't commenced the Olympic venue construction program. 'The time has come to just get on with it — get on with it, and build," Crisafulli said, marking his 150th day in office. "We are going to start immediately. We've got seven years to make it work — and make it work we will.' A 25,000-seat aquatics center has also been proposed in an Olympic precinct that includes the new main stadium at Victoria Park, a former golf course near downtown Brisbane. The initial 11 years that Brisbane had to prepare is now down to seven, and leaders at federal, state and local levels agree it's time to stop squabbling over venues and start building them. Newly elected IOC president Kirsty Coventry, who oversaw the initial planning stages as head of the IOC's coordination commission, has been updated on the changes by Andrew Liveris, chairman of the 2032 organizing committee. Liveris said there'd been daily engagement between the so-called 100-day review panel, tasked with assessing all venue options, and his local organizing committee. 'The stage matters," he said. 'We've still got 7 1/2 years to go, and we have a plan. This is a go-get-it-done plan.' Brisbane was the first Summer Games host picked in a new process to put a preferred candidate into exclusive, fast-track talks without facing a rival bidder in a vote. With it, the IOC aimed to cut the cost of campaigning and building venues. False starts It's been a year since local organizers scrapped initial plans to demolish and rebuild the Gabba, an iconic cricket ground, as the centerpiece of the 2032 Games when a previous review panel appointed in 2023 recommended a new stadium in city parkland. The costs of the Gabba rebuild had soared and the concept lost the support of the Australian Olympic Committee. The premier at the time, Steven Miles, rejected the recommendations of that review led by former Brisbane Mayor Graham Quirk. Miles instead planned to upgrade an existing rugby stadium to host the opening and closing ceremonies, and to renovate a facility built in the city's southern outskirts to host the 1982 Commonwealth Games as the track and field venue. Crisafulli went to a state election late last year promising no new stadiums, but then instituted another review quickly after taking power for the Liberal-National coalition. His cabinet went through the recommendations and approved the new plans Monday. A croc, or not? Domestic media earlier this week raised concerns about crocodiles at the Olympic rowing venue when it leaked that events would be staged on the Fitzroy River at Rockhampton on the central Queensland coast. Crisafulli confirmed the proposed Fitzroy River venue, and said a 'multitude' of events had been staged there — including Australia's pre-Olympic rowing camps. He said local kids swam and paddled in the river most weekends and crocodiles weren't a problem. Rowing Australia said the crocodile concerns were overblown in the media but raised some issues about the river current and its suitability for Olympic competition. Liveris said World Rowing would visit the venue in May. He also wasn't worried about crocodiles at the rowing venue. 'There's sharks in the ocean and we still do sailing and we still do surfing,' he said, downplaying the impact of wildlife. 'It's a bit kind of Hollywood-ish. I'm not worried about crocodiles." Opposition A small group of protesters gathered outside the riverside location where Crisafulli confirmed the revised venue plan. Dozens more protestors converged on Victoria Park, holding up 'Hands OFF Victoria Park' signs and shouting 'shame' while listening to news of the announcement. The Save Victoria Park community group is fundraising for a legal challenge in a bid to prevent the stadium being built in the hilly, 64-hectare (158-acre) park. Regions and legacy Brisbane organizers plan to host Olympic sports in coastal cities and sites from the Gold Coast and Sunshine Coasts in the south to Cairns in Queensland's far north and to the gateway of the Outback at Toowoomba, where an equestrian hub will be built. Cairns is about 1,700 kilometers (1,050 miles) north of Brisbane. The state and federal governments initially agreed a 50-50 funding split on a venue budget of just over 7 billion Australian dollars ($4.4 billion). The bulk of federal money was for an indoor arena adjacent to the city center that was initially set to host Olympic aquatics in a drop-in pool and later be transformed to host the National Basketball League and concerts. That project has been scrapped, with Crisafulli's government aiming to spread the federal funding around other venues and seeking private-sector funding to build a similar arena on state-owned land near the Gabba, outside the scope of the Olympics. Under the new plan, the Gabba is set to be demolished after the 2032 Games and replaced with housing. The main existing tenants — the Brisbane Lions in the Australian Football League and Queensland Cricket — have endorsed the plan to relocate them to the Victoria Park stadium that will have a post-Olympic and Paralympic capacity of 63,000. ___ AP sports: John Pye, The Associated Press
