The 2032 Olympics are coming to Brisbane, and with it, a potential housing crisis. The event is expected to drive a massive influx of construction workers to the city, creating a demand for housing that could outpace supply. This is particularly concerning given the already strained rental market in Brisbane. The report, commissioned by Rohrig Constructions and authored by Dr. Alan Patching, warns that the Olympics could lead to a new breed of fly-in, fly-out workers, who would need real housing in one of Australia's most strained rental markets. This could exacerbate the housing shortage in Queensland, which is already facing a shortfall of up to 300,000 construction workers by next year. The report also highlights the impact on construction costs, with Brisbane prices forecast to jump around 10% per year over the next two years, compared to 5% in Sydney and 4% in Melbourne. This could further strain households, which are already squeezed by three rate rises by the RBA and inflation at 4.2%. The Olympics will see new and upgraded venues, including the building of a mass athletes' village in the heart of the inner city at the RNA Showgrounds. However, the report warns that the pressure on the construction industry could have consequences well beyond Brisbane, as projects compete for the same people, resources, and delivery capability. This could lead to a situation where one of Queensland's biggest housing challenges is accommodating the workforce needed to solve the housing shortage. The report also highlights the need for organizations with major projects in the pipeline to secure delivery partners now and take a portfolio approach to procurement, or risk being locked out entirely. The 2032 Olympics are a significant event for Brisbane, but the report warns that the city could face a housing crisis that could have long-lasting consequences for the state.
