Latest news with #Sydney2000Games
Yahoo
4 days ago
- Business
- Yahoo
‘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. 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.' Error in retrieving data Sign in to access your portfolio Error in retrieving data
West Australian
4 days ago
- Business
- West Australian
‘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.'
Perth Now
4 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.'
San Francisco Chronicle
22-05-2025
- Sport
- San Francisco Chronicle
Incoming IOC head Coventry hands over the baton in planning for Brisbane 2032 Olympics
BRISBANE, Australia (AP) — Kirsty Coventry has completed a ceremonial baton change before she takes over as International Olympic Committee president next month, handing off oversight of preparations for the Brisbane 2032 Games during a three-day inspection visit to southeast Queensland state. Mikaela Cojuangco Jaworski replaced Coventry as head of the IOC's coordination commission for the 2032 Summer Games after the Olympic swimming champion from Zimbabwe was elected to take over from Thomas Bach in the sporting movement's top job. All three were part of the IOC team that met in Brisbane and Gold Coast for their first on-the-ground update on the planning overhaul from local organizers. 'I'm here to formally hand over the baton, or the Olympic flame, boomerang over to,' Jaworski, Coventry said. 'I hope that I'm leaving some good vibes.' Coventry made her Olympic competition debut at the Sydney 2000 Games and has family living in Australia, and said she feels right at home after chairing the coordination commission since soon after the IOC awarded the 2032 Games to Brisbane in 2021. 'I'm very excited about what Brisbane 2032 is going to do — not just for the region, but for Australia and for the world.' It took more than 1,000 days and major concept changes before a newly elected Queensland state government settled on a comprehensive venue plan in March. That includes a new 60,000-seat stadium and an aquatics center in the Victoria Park precinct close to downtown Brisbane, as well as proposals to share events with regions outside the capital. The surprising call to host rowing in a crocodile-inhabited river in Rockhampton on the central Queensland coast has attracted concern and criticism from the public and sports administrators. Veteran IOC Olympic Games executive director Christophe Dubi said there's time for local organizers and sports federations to consider options and collaborate, and there's absolutely no need to panic with seven years until the Brisbane Games. 'No one else but the federation can say the field of play is ready,' he said, noting who had the final sign-off on sports venues as the planning for the Olympics evolve. 'The plan always changes, and generally they change for the better,' he said. 'The question is not so much whether the plan has changed — it has — but is it a better plan? The answer is yes." Andrew Liveris, president of the local organizing committee, said venue construction is likely to begin later in 2026 and he's confident the main building program will be complete a year out from the Games. Dubi said doubters should look at the stage Sydney planning was in seven years out from the 2000 Games. He said the selection of the greenfield site for the main stadium and aquatic center in Brisbane 'is an incredible location' and Paris 2024 organizers had set a good example in that regard. 'So if you ask me from an operational standpoint, it's absolutely doable,' he said. 'You have also this opportunity to have this venue and this number of spectators, hence creating that precinct atmosphere downtown, and that will be something incredibly special.'
Fox Sports
22-05-2025
- Sport
- Fox Sports
Incoming IOC head Coventry hands over the baton in planning for Brisbane 2032 Olympics
Associated Press BRISBANE, Australia (AP) — Kirsty Coventry has completed a ceremonial baton change before she takes over as International Olympic Committee president next month, handing off oversight of preparations for the Brisbane 2032 Games during a three-day inspection visit to southeast Queensland state. Mikaela Cojuangco Jaworski replaced Coventry as head of the IOC's coordination commission for the 2032 Summer Games after the Olympic swimming champion from Zimbabwe was elected to take over from Thomas Bach in the sporting movement's top job. All three were part of the IOC team that met in Brisbane and Gold Coast for their first on-the-ground update on the planning overhaul from local organizers. 'I'm here to formally hand over the baton, or the Olympic flame, boomerang over to,' Jaworski, Coventry said. 'I hope that I'm leaving some good vibes.' Coventry made her Olympic competition debut at the Sydney 2000 Games and has family living in Australia, and said she feels right at home after chairing the coordination commission since soon after the IOC awarded the 2032 Games to Brisbane in 2021. 'I'm very excited about what Brisbane 2032 is going to do — not just for the region, but for Australia and for the world.' It took more than 1,000 days and major concept changes before a newly elected Queensland state government settled on a comprehensive venue plan in March. That includes a new 60,000-seat stadium and an aquatics center in the Victoria Park precinct close to downtown Brisbane, as well as proposals to share events with regions outside the capital. The surprising call to host rowing in a crocodile-inhabited river in Rockhampton on the central Queensland coast has attracted concern and criticism from the public and sports administrators. Veteran IOC Olympic Games executive director Christophe Dubi said there's time for local organizers and sports federations to consider options and collaborate, and there's absolutely no need to panic with seven years until the Brisbane Games. 'No one else but the federation can say the field of play is ready,' he said, noting who had the final sign-off on sports venues as the planning for the Olympics evolve. 'The plan always changes, and generally they change for the better,' he said. 'The question is not so much whether the plan has changed — it has — but is it a better plan? The answer is yes." Andrew Liveris, president of the local organizing committee, said venue construction is likely to begin later in 2026 and he's confident the main building program will be complete a year out from the Games. Dubi said doubters should look at the stage Sydney planning was in seven years out from the 2000 Games. He said the selection of the greenfield site for the main stadium and aquatic center in Brisbane 'is an incredible location' and Paris 2024 organizers had set a good example in that regard. 'So if you ask me from an operational standpoint, it's absolutely doable,' he said. 'You have also this opportunity to have this venue and this number of spectators, hence creating that precinct atmosphere downtown, and that will be something incredibly special.' ___ AP Olympics at in this topic
