Brisbane's continuing recovery: APM

The Brisbane housing market continues to record gradual increases in housing market activity, according to Australian Property Monitor's latest housing market report.

"Following a surge in activity last year due to local changes in the first home buyers grant, first home buyer levels are unsurprisingly at their lowest on record," the report says.

"Buyer activity in the lower-price ranges, particularly in the outer-northern suburbs, remains subdued. 

"Properties in Brisbane’s established inner and middle ring suburbs however remain popular with buyers, with investors attracted by high yields, rising rents and solid capital growth potential."

The report found Brisbane’s median house price rose by just 0.3% over the June quarter and was up by 1.8% over the 2013 financial year.

"Brisbane has recorded four consecutive quarters of house price growth for the first time in three years, although the increases have been incremental. Brisbane’s median house price remains 6.7% below its previous price peak, which is the worst performance of all the capitals."

"The local Brisbane economy can be expected to provide one of the best performers over the medium-term, with benefits from the lower dollar translating into increased activity in the mining and tourism industries and also attracting international investment.

"The expected surge in jobseekers from the southern states will lift population significantly in South-East Queensland."