Sydney median property prices increase over 2013

The latest report from the Australian Property Monitors has indicated a nationwide growth in capital city property values over 2013.

This is expected to continue well into the new year and could provide a great opportunity for those considering the sale of their Inner West real estate.

Nationwide, the median house price increased by 9 per cent, with buyer demand increasing across the country due to the reduced interest rates and an overall increase in buyer demand for capital city property.

Sydney was a star performer for growth, with the median house price increasing by 13 per cent over the year. Much of this was focused on the Inner West suburbs, along with the city's Upper North Shore and Western suburbs.

In fact, the price growth over the last 12 months in the Inner West has been estimated to be up to 20 per cent, with the median price for properties in the region now tracking above $1 million.

This could be great news for anyone considering selling their Inner West property in the near future, as buyer confidence and enthusiasm remains high in the New South Wales capital city - encouraged by the strengthening local economy and growing investment potential in the area.

The city is predicted to see values continue to increase, with a projected house price increase of between 5 and 7 per cent over the next 12 months providing encouragement for those looking into securing investment properties in the region.

Furthermore, 2013 saw a record number of investors in the market. As the auction clearance rate trended above 80 per cent during the last half of the year and the average number of days a property spent on the market dropping to just 54, now might be the time to sell.