Auction clearance rates have lifted to their highest level for more than a year, a report from property market analytics firm CoreLogic says.
The proportion of homes sold after going to auction rose to 78.4 per cent over the week to Sunday, the highest clearance rate since May 2015, helped by a 19 per cent fall in the number of homes going under the hammer.
Capital city home prices up 1.1% in August
Capital city home prices rose 1.1 per cent in August and by seven per cent in the past year but there were big variations between mining and non-mining regions.
Home prices rose an average 1.1 per cent in Australia's capital cities between July and August, and by seven per cent over the past 12 months.
But there is a wide variation between the capitals, with Sydney and Melbourne booming and cities more exposed to the fading mining investment boom on the skids, the figures from CoreLogic on Thursday show.
Both Sydney and Melbourne posted annual rises of over nine per cent, while the Perth and Darwin markets lost over four per cent.
