While volumes remained low, clearance rates at auctions over the weekend were high, indicating there is still plenty of demand for property.
Melbourne once again recorded the strongest auction clearance rate over the weekend, with 75% of properties being sold. The result was down from the 79% recorded the previous weekend, but up from the 74% recorded for the same weekend last year.
In Sydney, of the 265 properties that went to auction over the weekend, 74% were sold - the city's strongest clearance rate since September last year. The result was up from the previous weekend's 72%, but well down from the result for the same weekend last year, when boom conditions sparked an 83% clearance rate.
Property in Sydney's Inner West was the most highly sought in the country, with 85% of properties sold at the weekend's auctions. On the Upper North, the clearance rate was 82%, while the City and East saw 77% of auctioned properties sold.
In Brisbane, 37 properties went to auction, and a 47% clearance rate was recorded.
In Adelaide, a hefty 81% clearance rate was achieved from the 36 properties that went to auction.
And in Canberra, 38 properties went under the hammer, and a 63% clearance rate was recorded.