Auction activity has remained relatively steady across the nation this weekend, returning a higher success rate of 63.1 per cent increasing from last week's final clearance rate which saw the lowest weighted average result so far (61.7 per cent) this year. 

CoreLogic's clearance rate for the combined weighted average of the five capital cities was 63.1 per cent, compared with 69.8 per cent at the same time last year. 

The results were up on the previous week when 1,915 properties were auctioned, with a final clearance rate of 61.7 per cent. 

Source: CoreLogic​

Sydney

There were 551 auctions in Sydney over the last week with a preliminary clearance rate of 66.4 per cent, according to CoreLogic data.

"The Eastern suburbs and Northern Beaches are still experiencing the strong 80 per cent plus clearance rates showing the ongoing popularity of those areas," Leanne Pilkington, president of the REINSW, told WILLIAMS MEDIA.

Chris Wilkinson, agent with Ray White Drummoyne, told WILLIAMS MEDIA that the market is performing solidly.

“The markets performed really solidly, with 60 per cent clearance rates. There’s good quality stock on the market, there’s good buyers out there and they’re really genuine at the moment,” he said.

“The biggest trend at the moment is that the market is just very normal. I think the more we stop trying to compare it to what it was twelve, eighteen months, two, three years ago, that wasn’t normal. This is normal, there’s good quality stock, good numbers, good inventory levels, the buyers are a lot more genuine and I think the quality of them is a lot better. Sure, there are always those challenges and what the banks are posing and all that sort of stuff, but thats normal too,” he said.

“It (market stability) probably seems boring, but from my point of view its great. I think people are getting hung up on what was happening but this is the normal real estate market, where things are a little harder, banks aren’t giving away money like they were. We all don’t want to let go of what the market was but this is what it is,” he said.

Melbourne

REIV CEO Gil King told WILLIAMS MEDIA that REIV data shows there were 703 auctions over the weekend, with a preliminary clearance rate of 67 per cent.

Both figures were down on the same period last year when 718 properties were auctioned with 76 per cent selling under the hammer. 

40 per cent of total auction sales last week came from middle Melbourne suburbs, with 14 properties in Reservoir and nine in Mill Park changing hands. All seven properties auctioned in Craigieburn were sold.

This four-bedroom home in Mitcham sold at auction over the weekend for $1.4 million through Philip Webb. View this property on Luxury List.

"The weekend auction clearance rate edged upwards, with buyers snapping up properties at both ends of the market," Gil King told WILLIAMS MEDIA.

"The strength of the market in Melbourne's middle suburbs, where the median house price topped $1 million in the March quarter was evident again, with nearly 300 properties changing ownership at auction."

Read more about auction markets:

Vendors holding off ahead of school holidays

Record auction numbers weigh on clearance rates

Sydney auction volumes up 17% on last year