Solid demand and restricted supply have combined to push auction clearance rates and housing prices skyward, figures from market analysis firm CoreLogic show.
In the week ending Sunday, 77.9 per cent of auctions in the mainland state capitals produced a sale, compared with 69.9 per cent for the same time last year.
The average price was up by 0.3 per cent from the previous week and by 8.0 per cent from a year earlier, partly because there were 18 per cent fewer auctions than last year.
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