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Australia's auction markets reported its second busiest weekend for the year as activity remained on an upwards curve across most capital cities, according to the latest report from CoreLogic.
Over the weekend, 3,033 homes were taken to auction across the combined capital cities, 78.6% of which resulted in a sale.
The recent auction volume is substantially higher than during the same period last year, when only 480 auctions were held and a success rate of 59.9% was recorded, though the period last year was amid the COVID-19 lockdowns.
The robust activity in Melbourne was the main driver of the market over the weekend. The Victorian capital hosted 1,420 auctions, which returned a clearance rate of 76.5%.
Activity in Sydney also posted a considerable increase, up from 1,119 to 1,157. Of these auctions, 82.6% turned into a sale.
The most successful auction market, however, was Canberra, which recorded an 85.5% clearance rate for 93 auctions.
The weakest market was Perth, where only 28 auctions took place. The city was only able to record a 47.8% clearance rate.
In terms of property type, houses still outperformed units, with 80.9% of houses auctioned turning into sale, compared to 71.1% of units.
The CoreLogic table below shows the performance of each capital city:
