The Future of Woolloongabba After the 2032 Olympics

Yes. The Queensland Government confirmed in March 2025 that the Gabba will host its final events during the 2032 Olympics before demolition begins in 2033. The decision to build the new 63,000-seat stadium at Victoria Park (instead of rebuilding the Gabba) was finalised after an independent review. The Premier stated that "the Games must be held at a new stadium at Victoria Park," making this decision locked in. The Gabba will serve AFL and cricket through to the Olympics—possibly even hosting Olympic cricket if it remains on the program—giving the 126-year-old venue a fitting swansong before transformation into the Gabba Entertainment and Housing Precinct.

The Woolloongabba Priority Development Area (PDA) allows for up to 16,000 new dwellings on and around the Gabba footprint. This would create a mini-city of approximately 24,000+ residents in the heart of Brisbane's inner south. The development will be staged over 10-20 years to avoid flooding the market with too much supply at once.

Timeline: Early planning (2025-2028), Gabba demolition begins (2033), first residential towers likely delivered (2034-2035), with ongoing staged releases through the late 2030s and early 2040s. This staged approach aims to balance new supply with Brisbane's strong population growth—the city is adding 50,000+ residents annually, so 16,000 homes spread over two decades is actually undersupply relative to demand.

In the short term (2033-2035), there's a genuine risk of temporary market softness as thousands of new apartments come online. When Perth's Subiaco Oval redeveloped, nearby areas saw a 2-3 year plateau as supply outpaced demand. However, Woolloongabba's oversupply risk is temporary absorption challenge, not permanent crash.

Why the market will absorb it:

• Brisbane's population growing 50,000+ annually—demand is structural
• 16,000 homes over 10-20 years = ~800-1,600 per year (manageable)
• Brisbane's vacancy rate is 0.7-0.9%—extreme undersupply currently
• Cross River Rail, Brisbane Live arena, and precinct amenities create permanent demand drivers

Smart strategy: Hold through the 2033-35 soft patch (or differentiate with quality/unique features), and you'll emerge in the late 2030s with a property in one of Brisbane's most modern, connected, sought-after addresses. Similar to how Sydney's Olympic Park or Adelaide's Bowden eventually rebounded and exceeded previous highs.

The Woolloongabba Cross River Rail (CRR) station is scheduled to open in 2026. This is arguably the single most important infrastructure milestone for the suburb's property market in the next decade.

Why it matters:

• Connectivity premium: Direct links to CBD (2 mins), Brisbane Airport (~20 mins), Gold Coast line, all from Woolloongabba
• Rental demand spike: Professionals seeking car-free living will flood the market—expect 10-15% property value jump within 12 months of opening
• Infrastructure = #1 driver: Analysts consistently cite transport connectivity as the top factor in property demand. CRR instantly elevates Woolloongabba into Brisbane's best-connected inner suburbs
• Short-term rental boost: Business travelers and tourists value easy CBD/airport access—short-term rentals will see occupancy and rates climb from 2026 onward

Investor action: If you own in Woolloongabba, complete any renovations or upgrades by late 2025 to capture the 2026 demand surge. If buying, aim to secure property before CRR opens to avoid paying the connectivity premium.

Multiple property analysts forecast Woolloongabba prices could double (100%+ growth) from early 2020s levels by the 2032 Olympics. Here's the evidence:

• Place Advisory: Suburbs with Olympic venues are on trajectory to "almost double in price" ahead of 2032, similar to Sydney's 79% surge before the 2000 Games
• Norton Real Estate: Estimated Woolloongabba houses could go from ~$950K (2021) to over $2M post-Olympics
• Benchmark Economics: Forecasts at least +70% growth Brisbane-wide by 2032, with Olympic precincts exceeding this
• Historical precedent: Sydney's Strathfield (Olympic area) saw 79% growth in decade before 2000 Games, then continued rising 12% annually for 5 years after. London's East Village (2012 Olympics) doubled in value

Conservative scenario: Woolloongabba median house ~$1.35M (2025) → $1.7M (2027) → $2M (2032) → $2.2M (2035)

Important: Growth won't be linear. Expect solid gains through 2026-2032, possible plateau/dip 2033-2035 during construction, then resumption of upward trajectory as precinct matures. This is why timing matters—hold through the full cycle for maximum compounding.

Short answer: Potentially very lucrative, but plan ahead.

During the July-August 2032 Olympics, Brisbane expects ~80,000 additional visitors needing accommodation. Hotels alone can't handle this influx (Brisbane has ~22,000 hotel rooms), so short-term rentals will be critical. Woolloongabba properties could command $500-800 per night during the Games—potentially 3-5x normal rates.

Strategy for maximum returns:

• 2026-2031: Consider running as short-term rental to capitalise on rising demand as Olympics approach. Professional management delivers 40% higher returns than long-term leases
• 2029-2030: Start conversations with corporate/media organisations about pre-booking your property for Olympics period at premium guaranteed rates
• 2032: Either self-manage Olympics period or engage professional management to optimise nightly rates and handle guest influx
• Post-2032: Brisbane Live arena ensures ongoing visitor demand. Short-term rental remains viable with concerts, events, business travel

Compliance: Be aware of Brisbane's short-term rental regulations. Brisbane City Council applies a 50% rates surcharge to investment properties used for short-stay (~$10-20/week extra cost), but the income uplift far outweighs this.

Important: Don't buy property solely for the 2-week Olympic windfall. Ensure it also works as long-term rental or owner-occupied as fallback. The Olympics income is a bonus, not the entire investment thesis.

Yes, construction disruption is real and landlords should plan for it. From 2026 onwards, Woolloongabba will experience near-continuous building activity: Cross River Rail finishing works, Olympic preparations, Gabba demolition (2033), and precinct construction. Expect noise, traffic congestion, and a skyline of cranes.

Impact: Some tenants will be deterred if disruption outweighs convenience. You might experience slightly higher turnover or need to offer small rent discounts during peak construction years (2029-2034).

How to mitigate:

• Soundproofing upgrades: Double-glazed windows, insulation, quality air conditioning. Budget $15K-30K. This keeps units comfortable and commands premium rent
• Market to right demographic: Professionals who value 2-minute CBD commute over peace and quiet. Highlight time savings and connectivity, not ambience
• Flexible lease terms: Offer 6 or 9-month leases during peak disruption so you can adjust rents more frequently and avoid long-term tenant complaints
• Short-term rental pivot: Digital nomads and corporate travelers are out during the day—they just need a place to sleep. Less sensitive to daytime construction noise

Remember: The disruption is temporary (10 years), but the infrastructure benefits are permanent (50+ years). Perth's Subiaco and Adelaide's Bowden precincts faced similar challenges and emerged stronger. Proactive landlords who manage through the rough patch will capture the long-term uplift.

The opportunity is far from over. While Woolloongabba has already seen growth (median houses hit $1M+ in 2021, now ~$1.35M), the biggest gains are typically in the 5-10 years leading up to Olympics, not after announcement.

Why now is still prime timing:

• Cross River Rail opens 2026: This is when connectivity premium really kicks in. Properties bought in 2025 will capture this before it's fully priced in
• Olympics still 7 years away: Plenty of runway for appreciation. Sydney 2000 saw strongest growth 1995-2000 (5 years before), and another surge 2000-2005 (after)
• Gabba demolition not yet started: Once bulldozers arrive in 2033 and precinct takes shape, it becomes "real" for buyers. Early movers before transformation avoid paying for the finished product
• Brisbane's broader momentum: City has surged 80% since 2020, but analysts predict another 70%+ by 2032. Woolloongabba rides this wave PLUS its own infrastructure premium

What's changed vs 2020: You're not getting 2020 prices anymore (that ship sailed). But you're still buying before CRR opens, before Olympic hype peaks, and before the precinct transforms. That's the sweet spot.

Decision framework: If you take a 10-15 year view and can weather some construction disruption, Woolloongabba is still one of the best Olympic investment plays in Brisbane. If you're looking for quick 2-3 year flips, you're probably 3-4 years late. Buy for 2030+ outlook, not 2027 exit.