Home sales across the capital cities over the last seven days appear to have picked up, helped by strong results in Melbourne and Canberra.
Preliminary figures released by property data group CoreLogic on Monday showed that the national auction clearance rate rose to 70.6 per cent in the week to October 15, up from 64.4 per cent in the prior week which was the lowest clearance rate since January 2016.
CoreLogic says there were 2,497 auctions held in Sydney, Melbourne, Brisbane, Adelaide, Perth, Tasmania and Canberra in the last week, up from 2,318 in the prior week.
So far, 2,007 results have been reported, generating a preliminary clearance rate of 70.6 per cent.
"While we expect the clearance rate to revise over the next few days as the remaining results are collected, it will be interesting to see how the clearance rate holds up on Thursday when the final figures are released," CoreLogic said in a statement.
Over the corresponding week last year, auction volumes were similar, but the clearance rate was stronger at 76.2 per cent.
In the last week, Melbourne recorded the strongest clearance rate at 74.8 per cent, followed by Canberra's 74.5 per cent.
Brisbane and Tasmania had the lowest clearance rate, at 50 per cent each.
Sydney's clearance rate has dropped from 81.4 per cent a year ago to 69.5 per cent.
The combined home values across Sydney, Melbourne, Brisbane, Adelaide and Perth were unchanged in the week to October 15.
But on an individual basis, home values dropped by 0.2 per cent in Sydney while lifting elsewhere.
The median price across all capital cities was $695,116 for a house and $570,142 for a unit.
