The Brisbane property market has undergone significant change over the past few years, but many experts believe the city is still only in the early stages of a much larger transformation. Population growth, interstate migration and the lead-up to the Brisbane 2032 Olympic and Paralympic Games are all contributing to a shift in the way people view Brisbane - not just as a lifestyle city, but increasingly as a long-term investment destination.
Brisbane Is No Longer Being Viewed as a “Secondary” Capital City
For many years, Brisbane sat behind Sydney and Melbourne in the minds of many investors. While Brisbane offered affordability and lifestyle appeal, it was often overlooked by interstate buyers chasing larger capital gains elsewhere. That perception has changed considerably.
As property prices in Sydney and Melbourne pushed beyond the reach of many Australians, Brisbane became increasingly attractive due to its relative affordability, warmer climate and strong lifestyle appeal. Combined with the rise of remote and hybrid work, many Australians began reconsidering where they wanted to live long term.
Queensland has also continued to experience strong interstate migration, with many new residents relocating from New South Wales and Victoria in search of lifestyle, value and opportunity. For Brisbane, this has meant increased demand across both the sales and rental markets.
Population Growth is reshaping Brisbane
One of the biggest forces reshaping Brisbane’s property market is population growth. Over the past five years, Queensland has experienced some of the strongest population growth in Australia, driven by both interstate and overseas migration. As affordability pressures increased in Sydney and Melbourne, many Australians began looking towards Brisbane and South East Queensland for lifestyle, value and long-term opportunity.
According to Queensland Government and ABS data:
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More than 120,000 people moved to Queensland in the year to September 2023 alone
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This included approximately 32,600 interstate migrants and nearly 88,000 overseas migrants
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Queensland recorded its highest population growth in more than 15 years
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Greater Brisbane added approximately 58,200 new residents in 2024–25
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Around 33,900 of those new Brisbane residents came from overseas migration
Current forecasts suggest this growth is expected to continue well into the next decade.
South East Queensland’s population is projected to reach approximately 4.5 million people by 2032, while Queensland’s total population is forecast to exceed 6 million residents by the early 2030s. Greater Brisbane alone is expected to add more than 500,000 additional residents by Games time.
Importantly, many analysts believe Brisbane 2032 will not create these trends — but rather accelerate trends that are already underway.
For Brisbane’s property market, population growth on this scale can have significant long-term implications. More residents generally create:
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increased housing demand
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greater pressure on rental supply
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stronger demand for well-connected suburbs
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increased competition for quality homes
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and greater focus on infrastructure and transport connectivity
As more people move to Brisbane, demand for quality rental properties continues to rise. In many areas, vacancy rates remain tight, competition between tenants has increased and well-presented homes are often leasing quickly. This has created opportunities for investors, but it has also changed tenant expectations.
Today’s renters are increasingly selective. Tenants are often comparing multiple properties online within minutes, and presentation, responsiveness and property management quality can play a significant role in leasing success. Properties that are well maintained, professionally managed and priced correctly are generally performing far better than homes that feel neglected or poorly marketed. For landlords, this highlights the importance of staying proactive rather than assuming demand alone guarantees strong performance.
The Brisbane 2032 Olympic and Paralympic Games Are Influencing Confidence Long Before the Event Begins
While the Brisbane 2032 Olympic and Paralympic Games are still several years away, the impact is already being felt across Brisbane’s property market. Importantly, it’s not just the Games themselves driving attention — it’s the significant infrastructure, transport and urban investment that accompanies an event of this scale. Major projects such as Cross River Rail, Brisbane Metro, venue redevelopments and broader transport upgrades across South East Queensland are helping reshape parts of Brisbane and improve long-term connectivity throughout the region.
Historically, large-scale infrastructure investment often creates ripple effects throughout surrounding property markets. Improved transport access, upgraded precincts and increased government investment can contribute to stronger long-term appeal for both owner-occupiers and renters. For many investors, Brisbane 2032 is being viewed as more than just a sporting event. It is increasingly seen as part of Brisbane’s broader evolution into a larger, more connected and internationally recognised city.
Why Brisbane’s Southside Is Drawing Increased Attention
As Brisbane continues to expand, many investors are paying closer attention to established southside suburbs that combine strong infrastructure, transport connectivity and long-term liveability. Areas such as Mansfield, Wishart, Mount Gravatt, Upper Mount Gravatt and Greenslopes have remained consistently popular due to their proximity to the Brisbane CBD, major transport corridors, schools, universities and shopping precincts. These suburbs are also positioned within the broader South East Queensland growth corridor that is expected to benefit from ongoing infrastructure investment leading into Brisbane 2032. Improved transport connectivity is expected to further strengthen accessibility across many parts of Brisbane’s southside over the coming years.
Looking Ahead
No one can predict the future of Brisbane’s property market with certainty. However, few would dispute that Brisbane is experiencing a period of major long-term change. Population growth, infrastructure investment and the global attention surrounding Brisbane 2032 are all contributing to increased confidence in the city and reshaping the way many people view the Brisbane market. For investors and landlords, understanding these broader trends may become increasingly important in the years ahead. As Brisbane continues to grow, suburbs with strong livability, connectivity and long-term appeal are likely to remain firmly on the radar for both renters and property investors alike.
If you'd like to discuss how these trends may affect your investment property, feel free to contact our team.
References
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Australian Bureau of Statistics (ABS) – National, State and Territory Population Data
https://www.abs.gov.au -
Queensland Government Statistician’s Office (QGSO) – Population Projections
https://www.qgso.qld.gov.au -
Queensland Government – Brisbane 2032 Delivery Plan
https://www.delivering2032.com.au -
Brisbane City Council – Brisbane Metro Project
https://www.brisbane.qld.gov.au -
Cross River Rail Queensland
https://crossriverrail.qld.gov.au -
Queensland Government Population Growth Statements
https://statements.qld.gov.au
