State of the Sydney market explored by APM

A leading industry body has released its analysis of the factors and events that are likely to affect property markets in the year ahead.

Australian Property Monitors (APM) - a part of the Fairfax group - has published the latest instalment of its State of the Market research paper.

Exploring the issues impacting on real estate prices in the nation's capitals, the research shows that Sydney has been "predictably" balanced throughout the previous 12 months.

It lists the city's low dwelling vacancy and its impact on rental rates as one on the key factors buoying property markets - with median house prices increasing by 2.3 per cent year-on-year.

Units, townhouses and apartments did not fare as well but still experienced positive growth of 0.5 per cent over the 12 months before October 30.

Researchers say that Sydney still provides a "solid prospect" for both homeowners and investors over the next year, as prestige markets cool and vendors begin to look for ways to improve their property holdings in the medium term.

Despite a difficult year, the NSW economy was able to remain fairly productive - which in turn has had a stabilising effect on the property market as a whole.

Property management training sessions may help those real estate professionals looking to capitalise on a healthy rental market in Sydney, backed by increased vendor activity in the low to medium price ranges.