The nation's auction market bounced last week. The preliminary clearance rate rose to 71.7 per cent, up from the previous week's final clearance rate of 67.5 per cent. However, last week's final clearance rate is likely to be lower.

Volumes continue to track higher than for the same period last year. There were 2,041 capital city auctions this week, virtually unchanged from last week’s number, but higher than the 1,795 auctions held one year ago.  

Adelaide

Adelaide's standout result came from a gracious, four-bedroom, stone home in Adelaide's Malvern which sold for $2,096,000 at auction.

Agent Bonnie Whyte of klemich told SCHWARTZWILLIAMS there were 12 registered bidders at the auction, but "only four or five actually put up their paddle."

"There was strong bidding from all four parties," said Whyte.

"It's was actually the opening bidder that eventually bought the property," she said, adding there were probably eight parties who would have liked to buy it.

"Malvern is definitely quite popular," said Whyte, saying its proximity to the city and good schools means it has wide appeal.

Source: CoreLogic.

Melbourne

REIV President Joseph Walton told SCHWARTZWILLIAMS Melbourne recorded a very strong preliminary clearance rate of 78 per cent. A total of 772 auctions were held over the weekend, he said.

"Spring came early this weekend with vendors experiencing strong results under the hammer," he said.

"Auction volumes are set to rise in the coming weeks with almost 1000 auctions scheduled."

Sydney

REINSW President John Cunningham told SCHWARTZWILLIAMS it was "another stellar week of auction results across sydney".

The strong result "has given both sellers and buyers the confidence that moving into the spring market it is steady as she goes," he said. 

"Reports from the ground indicate strong bidder activity particularly in the first-home buyer and family home markets with a more erratic response from top end auctions," said Cunningham. 

Cunningham said that top-end auctions are seeing "some exceptional sale prices and strong activity on one hand and on the other some failing to reach reserve."

"Stock levels are on the rise which is unseasonal for August," said Cunningham, which could mean "a bumper season ahead".

Cunningham said stable prices over the past two months means "sellers are feeling confident enough to go to market and take their chances".

Read more about auctions:

Melbourne market for family homes near good schools is "very, very strong", says Andrew Boyce of Hodges

Melbourne market is still very active at the high end: Chris Savvides, Jellis Craig Doncaster

Twenty per cent of Newcastle sales from Sydney buyers: PRDnationwide