Strong auction take-ups recorded

Auction markets across capital cities turned in better report cards last weekend, with both volumes and success rates rising from the previous weekend and from the same period last year, according to the latest figures from CoreLogic.

Owners and sellers put up a total of 1,555 homes for auction across combined capital cities, returning a preliminary auction clearance rate of 78.6%. This was a better turnout than the previous week, which recorded a total auction volume of 1,167 and a final success rate of 67.7%.

"Over the same week last year, auction volumes were lower with 1,450 homes going under the hammer across the combined capital cities, returning a final auction clearance rate of just 51.2%," said CoreLogic analyst Caitlin Fono.

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Of all capital cities, Canberra sellers were the most successful, recording a clearance rate of 90.3% for 48 auctions.

Melbourne reclaimed its title as the busiest auction market, with 717 homes listed for sale.

Sydney's market also remained in a strong position, with its clearance rate hitting 80.3% for 578 auctions.

In terms of property type, a total of 1,050 houses and 505 units were taken to auction, with the latter returning a slightly higher take-up at 78.6%.

The table below shows the performance of auction markets in each capital city: