Properties in Melbourne's Templestowe, where large homes grace one-acre blocks, are in high demand, says Chris Savvides of Jellis Craig Doncaster.

Templestowe is 20km north east of the Melbourne CBD, and homes with a pool and tennis court are particularly sought after, Chris Savvides told SCHWARTZWILLIAMS.

"There's a shortage of these homes on the market," he said. Last week, Savvides sold a five-bedroom home at 13 Lempriere Close, Templestowe, Victoria, for $3,760,000.

The home was for sale through expressions of interest, and three parties were interested in the property. It ended up selling to a local family who were looking for more space. The sellers were empty nesters, looking to downsize.

The previous week, Savvides sold another property in the area for more than $4 million.

Visit Luxury List to view the five-bedroom house at 13 Lempriere Close, Templestowe, Victoria, which sold last week for $3,760,000 through Jellis Craig Doncaster.

Auction data suggests the Melbourne market is stronger than Sydney's market

CoreLogic data shows that Melbourne's final clearance result has held above 70 per cent since July last year. By comparison, Sydney's clearance rate has been below 70 per cent for six weeks in a row now, suggesting the Melbourne market could be outperforming the Sydney market.

REIV president Joseph Walton said 617 auctions were held last weekend in Melbourne, and according to REIV data, there was a preliminary clearance rate of 76 per cent.

Both figures are up on the same period last year, when 515 auctions were held with 72 per cent selling.

Outer suburbs Craigieburn and Werribee recorded the highest number of auction sales last weekend with 12 and nine sales respectively.

“Auctions continue to gain in popularity in the city’s outer suburbs with vendors in these areas experiencing strong results under the hammer this weekend," said Walton.

“Melbourne’s northern suburbs  were responsible for a quarter of this weekend’s auction activity," said Walton.

The nation-wide clearance rate was 74.8 per cent: CoreLogic

Across the country, the preliminary clearance rate rose to 74.8 per cent last week, but the final result for the previous week was revised down to 69.4 per cent, according to CoreLogic.

Source: CoreLogic.

In Sydney, agents are reporting higher numbers bidding at auction

John Cunningham, president of the REINSW, told SCHWARTZWILLIAMS that agents are reporting higher numbers of bidders at Sydney auctions.

"With another upswing in the sydney market this past weekend, it appears the buyers are proving the pundits wrong, with strong activity and a reported increase in bidders having a go," he said. 

Cunningham reported "increased stock" was providing buyers with an "unseasonal choice of options". He described the market as "positive yet stable".

"It is markets like this that everyone likes, more stick, plenty of buyers and happy agents," concluded Cunningham.

Read more about the Sydney and Melbourne auction markets:

Why is Melbourne's property market outpacing Sydney's?

Auction market cooling, but still hot when the right property comes along

Auction clearance rates stuck in 60s for five weeks as chill sets in