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Despite continued positive performance from the Sydney property market, one real estate group had said the fantastic run will inevitably slow down.
Sydney's median house price reached $825,000 at the end of November, after rising 14.3 per cent over the year and 3.9 per cent over the quarter, according to CoreLogic RP Data.
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Raine & Horne chief executive Angus Raine said the Sydney market includes many sub-markets that have reacted differently to factors such as low interest rates, foreign investment and SMSF activity.
"That said, Sydney real estate has had a very good run since May 2012, and it's undoubtedly due for a bit of a breather at some time," he said.
Despite the potential for a slowdown in activity, Mr Raine said there could be a rush to get into the market before 2014 ends as people look take advantage of low interest rates.
Mr Raine also pointed to evidence from SQM Research that listings are down in the NSW capital by 8.1 per cent compared with November 2013.
"A lack of listings is proving a common theme in markets across Sydney, which could result in a rush of sales as buyers with a deadline look to bed down a new property before Christmas," he said.
