Discounting on the decline to secure Brisbane sales: APM housing market report

Positive signs continue to emerge that the nascent recovery in the Brisbane housing market evident over the past year may be sustained, according to Australian Property Monitors.

"The Brisbane economy now appears to be back in town," APM's senior economist Dr Andrew Wilson said noting a sharp fall in the local unemployment rate over April, falling from 6.3 percent to just 5.1 percent.

"It is no coincidence that the rise in Brisbane’s unemployment rate over 2012 provided a significant impediment to housing market confidence and buyer activity in that city."

Buyer activity remains solid in Brisbane’s established middle-ring suburbs to the north and west of the city.

Redland City is also proving popular with Brisbane buyers.

First home buyers remain subdued; however investors are increasingly recognising the potential of Brisbane, with its high yields and plenty of upside for capital growth.