Home sales higher after holiday slowdown

Auction volumes have increased across Australia's combined capital cities in the week to October 8, but the rate continues to slow compared to a year ago.

Home sales bounced higher across the capital cities in the past seven days, but the clearance rate continues to track lower compared to a year ago.

Preliminary figures released Monday by property data group CoreLogic showed the national auction clearance rate rose to 68.1 per cent in the week to October 8, up from 66.3 per cent in the prior week when volumes dipped due to long weekends in NSW and Victoria.

But the rate is down on the 76.4 per cent recorded at the same time last year despite similar volumes.

Melbourne was the only city last week to record a rate above 70 per cent - reaching 72.1 per cent - while Sydney remained below for an 11th consecutive week.

Home prices were flat across the combined five capitals, with only Melbourne and Brisbane increasing - up 0.1 per cent and 0.2 per cent respectively - while Perth fell 0.1 per cent.

On a monthly change basis, Sydney was the only city where home prices fell, while prices remained steady in Adelaide, and rose in Melbourne, Brisbane and Perth.