Internal migration to QLD
The latest construction figures from the ABS showed residential construction picking up, but overall construction activity declined by -1.4 per cent over 2020, with commercial and non-residential construction declining over the year by -4.5 per cent.
In the residential space higher-density development has weighed heavy, though both approvals and actual construction now appear to have bottomed out in south-east Queensland, where vacancy rates have been tightening as the state benefits from hefty internal migration out of the southern states.
Olympics hot seat
Yesterday, Brisbane was officially confirmed as the preferred candidate for a 2032 Olympics bid, which would represent a significant boost to south-east Queensland, following on from a somewhat lacklustre Commonwealth Games (most of the events I went to were only sparsely attended).
There are some proverbial hurdles to be cleared yet, but the decision by the IOC's executive board appeared to put Brisbane in pole position.
It remains to be seen if Doha or Budapest launch serious bids to host the 2032 Olympics, but at this stage Queensland looks like a hot favourite.
Upgrading venues
If the bid was to prove successful then Queensland has plenty of stadia which could be used and/or upgraded, such as Metricon/Carrara (which is only a 25,000-seater), the tired Gabba (42,000 capacity), and my favourite venue Suncorp Stadium at Lang Park (52,500 capacity).
The obvious choice for a new venue would be a 50,000-seater revamp of the moribund Albion Park Raceway, which would be of benefit to popular adjacent suburbs such as Ascot.
Nearby Hamilton North Shore would be another obvious beneficiary of funding, while the QEII stadium - the old Queensland Sports and Athletic Centre - in the southern suburbs of the city, could yet see a revival.
One of my earliest television sporting memories was watching the 1982 Commonwealth Games, the winking 'Matilda' kangaroo, and the map logo without Tasmania included, and it would be great to see Brisbane snag the bid.
The state would need to consider significant road and rail upgrades, since Gold Coast and Sunshine Coast would presumably be used as village camps.
South-east Queensland is already emerging as a leader out of the coronavirus recession, with huge internal migration and housing prices rising, and a successful Olympics bid would secure further confidence and development.
