Almost 3000 home auctions across Australian capitals have shown strong results, with seven out of 10 properties sold.
CoreLogic figures for the week ending March 1 saw 2933 capital city homes go under the hammer, with an average preliminary clearance rate of 77.1 per cent.
There were about 400 more homes publicly selling than the week before, with similar final sale results around 72 per cent expected.
The results are a significant improvement compared to a year ago, when 2201 capital city homes were taken to auction with just over half selling.
Melbourne solidified its position as the biggest auction market, with 1567 auctions and a clearance rate of 77.1 per cent in the city’s busiest auction week since October 2018.
Sydney was second with 1045 properties, but recorded the highest preliminary clearance rate of 81.4 per cent.
Preliminary results show Canberra was the best performer among smaller auction markets, with a clearance rate with a 67.7 per cent across 82 auctions.
Brisbane registered a 63.2 per cent clearance rate across 136 auctions, closely followed by Adelaide with 62.7 per cent across 81 auctions.
Perth fell behind the rest of capital cities with only eight of the 17 homes auctioned finally being sold. Tasmania had five auctions across the week, failing to sell any of the properties.
With the exceptions of Tasmania, all clearance rates across the capital cities were higher than last year.