Strong auction results in Sydney and Melbourne have defied a fall in weekly auction activity around Australia's capitals.
Australia's two-speed housing market continued last week as strong auction results in Sydney and Melbourne defied lacklustre property sales elsewhere around the country.
The national clearance rate across the capital cities was 77.8 per cent in the week to March 5, down from 78.4 per cent a week earlier, latest data from CoreLogic shows.
Just 2,714 auctions were held around the capitals in the week, down from a February record of 3,301 a week earlier.
In Sydney, 886 auctions were held and the clearance rate was 80.5 per cent - the fourth week above the 80 per cent mark.
Melbourne posted its second week above the 80 per cent clearance rate level at 80.4 per cent with 1,399 auctions held.
Weekly clearance rates were lower in the other capitals, with the exception of Perth, which showed an improvement, and Tasmania, where the market was flat.
