Sydney and Melbourne both recorded clearance rates of 74% over the weekend, though volumes are down.
Australia's two largest property markets are seeing demand for centrally located homes remain solid, while property in the outer suburbs are proving harder to move.
Both Sydney and Melbourne recorded overall clearance rates of 74%, though volumes were down significantly for the same weekend last year.
Sydney's eastern suburbs recorded a phenomenal clearance rate of 90%, proving there is strong buyer demand for good suburbs close to the city. The lower north shore achieved a clearance rate of 86.7%, and the inner west was also well bid, recording 83.6%.
Less buoyant were Canterbury Bankstown, which recorded a clearance rate of 68.2%, and Sydney's west only achieved 45.2% clearance.
"If you're a buyer you're not seeing anywhere near the prices growth of a year ago," said Domain chief economist, Andrew Wilson. "And if you are a seller you're clearing your properties. It is a much more rational market from both a buyer and a seller point of view.
In Melbourne, many sellers opted to postpone their auctions. Only 30 properties went to auction in the inner-city suburbs, with most sales occurring in more affordable outer suburbs. Of the 482 properties scheduled for auction, only 335 actually recorded a result.
In Canberra, 51 properties went to auction, but only 41.5% sold.