It was dubbed "Super Saturday" in some quarters, but despite a jump in the number of homes being auctioned, the proportion of properties which sold was also higher.
The number of auctions rose to 2,820 over the week ending Sunday, from 2,565 the previous week, according to CoreLogic RP Data's preliminary figures released on Monday.
But despite this 9.9 per cent rise, the result of a seasonal spike in homes coming onto the market, the auction clearance rate - the proportion of auctions ending with a sale - rose to 71.3 per cent, from 69.9 per cent a week earlier.
Clearance rates remained high in the bellwether markets of Sydney and Melbourne, rising in Sydney to 74.2 per cent from 70.7 per cent, and falling only slightly in Melbourne to 73.3 per cent from 73.7 per cent.
These figures are subject to minor revision, but still show the proportion of auctions ending with a sale is relatively high, despite talk that "Super Saturday" could mean a glut of unsold homes.
The increase in homes coming onto the market hasn't hurt prices either.
CoreLogic RP Data figures show prices fell just 0.1 per cent in both Brisbane and Adelaide, but rose in the other mainland state capitals. Perth led with a jump of 1.2 per cent, followed by 0.7 per cent in Melbourne and 0.3 per cent in Sydney.
Annually, prices were up by 11.4 per cent across the major five capitals, with Sydney surging 17.1 per cent, and Melbourne jumping 14.3 per cent.
In his opening address to a parliamentary committee a week and a half ago, Reserve Bank of Australia governor Glenn Stevens said measures introduced by the Australian Prudential Regulation Authority to control growth in lending to investors appeared to be working.
"I hasten to add that the objective of such tools is not to control dwelling prices, but to contain leverage (borrowing as a proportion of the investment)," he told the committee.
The latest RBA figures show that investor housing debt grew 10.8 per cent over the year to July, compared with the 10 per cent speed limit for individual lenders set by APRA in December.
ANNUAL HOME PRICE CHANGES
Sydney +17.1 pct
Melbourne +14.3 pct
Brisbane +4.5 pct
Adelaide -0.3 pct
Perth -1.0 pct
Combined 5 capitals +11.4 pct
Source: CoreLogic RP Data
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