A NEW report shows strong building approvals, a further increase in jobs and reduction in unemployment in Cairns.
Herron Todd White research director Rick Carr in his latest CairnsWatch report for March said the report "continued the run of good economic news for Cairns".
He said on the basis of continued consolidation in the city's property market "we have advanced Cairns to the rising market phase on our property clock" - up from "start of recovery". Mr Carr said the regional employment trend was back on the rise, reaching 108,200 people in work last month.
"According to our best guess, the Cairns region's unemployment rate trend has turned, with March 2015 rate reducing to 7.6 per cent when analysed in trend terms," he said. "But the region still has a very low ' labour force participation rate', which suggest that many people without jobs are not actively seeking work.
Mr Carr said the number of properties listed for sale was starting to climb because increasing prices were attracting more sellers on to the market.
"The trend in numbers for properties for sale has increased by 6 per cent from June quarter of 2014 to March quarter of 2015", he said.
"Building approvals for the construction of new dwellings maintained intensity in February 2015, and have reinforced their trend on an upward trajectory.
"Approvals have increased in trend by 41 per cent over the past 12 months from February 2014 to February 2015.