Brisbane was recently named by Time Magazines as one of the 2023 World's Greatest Places. The list which identifies 50 extraordinary destinations to explore, summarised Queensland’s capital as ‘sports and sun’. An accurate description given its announcement as the host city of the upcoming 2032 Olympic and Paralympic Games. With Brisbane’s reputation as a tourist destination growing on the international stage, does the city have the infrastructure in place to accommodate the impending influx?
Brisbane in the spotlight
Now in 2023 with no more mention of lockdowns and restrictions, it seems as though the pandemic has become a distant memory. Compared to its southern counterparts, Queensland and more specifically its south-east region, had a less tumultuous time throughout the past few years. In some ways, it can be said the sunshine state benefitted from the restrictions that were imposed on Melbourne and Sydney. The state attracted the attention of international celebrities, as well as various sporting codes, and general southerners attempting to escape the various lockdowns.
Opportunities
To accommodate the impending demands of an Olympic city, Brisbane City Council has a 2023 Masterplan that is described as a 10-year ‘green and gold’ runway. Contributing to the long-term plan for Brisbane are various transport projects like Cross River Rail and the introduction of Brisbane Metro, significant developments to green spaces like Victoria Park and Roma Street Parkland, as well as some more contentious plans like the Gabba upgrade and Queens Wharf.
Challenges
From an external perspective, Brisbane seems to be charging ahead when it comes to change and growth. However, diving below the superficial media buzz there is an undercurrent of unease around the city. Despite the large-scale infrastructure that is being put into place, the feedback from the general population is an immediate response to the lack of housing needs to be addressed. The Annual Rental Affordability Index that was released last year clearly marked Brisbane as one of the least affordable cities for renters. When it comes to those looking to own a property, availability is a key issue. InfoTrack's latest Property Market data shows a continuation of urban sprawl occurring across Queensland as buyers look for locations outside of the capital. The data shows a correlation between the popularity of suburbs, bringing more competition to the area, and an increase in property prices for that location.
With this in mind, the complex issue of housing availability in Brisbane will need to be addressed sooner rather than later. As international tourist numbers start to return, so will the potential of international interest in the local property market. In order to go full steam ahead towards the 2032 deadline, the provision of sufficient accommodation options will need to be part of the infrastructure debate.
