More homes taken to auction

Australia's auction market remained strong this week with more homes taken to auction, the latest figures from CoreLogic show.

Capital cities witnessed an overall auction activity for 1,633 homes, higher than last week's 1,533. This week's auction volume returned a preliminary clearance rate of 75.7%, still above last week's final success rate of 72.3%.

"Although the final clearance rate across the combined capitals will revise lower as remaining results are collected, it will likely hold above 70% for the 5th consecutive week," CoreLogic analyst Caitlin Fono said.

While the auction volume this week was lower than 1,983 recorded during the same period last year, the clearance rate was higher, up from 51.8%.

Melbourne continued to lead all capital cities in terms of auction volumes — this week, 824 homes were taken to auction in the Victorian capital, returning a clearance rate of 75.7%.

Syndey, on the other hand, recorded the highest clearance rate at 80.3.

The table below shows how each capital city performed this week.