A veteran property expert has predicted the suburbs of Sydney will continue to be a popular place to buy homes in 2014.
Mr Ryder explained that investors were responsible for shaping capital city markets this year, with multi-million-dollar properties becoming increasingly common.
Speaking to news.com.au, he stated that the upper end of the market in capital cities has been a popular choice for buyers in the last 12 months.
Mr Ryder said: "I think you will see less of that and smarter buying spread across more affordable middle-ring suburbs."
He was commenting after data showed property prices in Sydney, Perth and Melbourne have been rising strongly in the last year.
Figures revealed that Australia's combined capital city home values were up by 8.3 per cent.
Five Dock, Leichhardt, Haberfield and Drummoyne are among the most popular suburbs in Sydney for buyers and properties in these parts of the city have been snapped up quickly at auction in recent weeks.
Posted by Ravin Chatlani