An increase in auction volume hasn't halted rising clearance rates across the country, with a new yearly benchmark likely to be set for the combined capital cities from the last week's results.

Data from CoreLogic indicated there were 1,412 homes taken to auction across the combined capital cities for the week ending August 25, in comparison with 1,228 the previous week.

A preliminary clearance rate of 79.6 per cent is also expected to be revised down to be higher than the previous week's final rate of 73 per cent - the highest in two years.

Over the same week last year, auction activity was higher with 1,915 homes taken to auction, returning a significantly lower clearance rate of 54.6 per cent. 

Sydney

Sydney recorded a preliminary clearance rate of 84.7 per cent across 500 auctions this week, the highest preliminary clearance rate the city has seen since February 2017.

Over the previous week, final results show 76.2 per cent of the 446 auctions were successful.

REINSW President Leanne Pilkington said while there had been an increase in volume, it was "nowhere near enough" to satisfy current demand.

"Last weeks open home attendances were up 42 per cent, clearly demonstrating that buyers are back in the market," she said.

"We just need some sellers to join them."

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170 Glenlyon Road, Brunswick East was sold under the hammer through Dylan Francis of JellisCraig with the price withheld. As seen on The Home Page.

Melbourne

Melbourne's preliminary clearance rate remained above 70 per cent for the fifth consecutive week, coming in at 79.7 per cent.

The city hosted 665 auctions last week, in comparison with 588 the week before.

REIV CEO Gil King said the institute's clearance rate of 81 per cent was the highest since the last week of April 2017.

"Bentleigh East, Craigieburn, Mount Waverley and Richmond sold the most properties under the hammer with seven each," he said

“Three suburbs recorded a 100 per cent clearance rate - Mount Waverley with seven sales, followed by Northcote and St Kilda with six sales each.”

Brisbane

Brisbane hosted a total of 94 auctions, returning a preliminary clearance rate of 67.7 per cent.

Apollo Auctions had an average attendance of 20.4 people and 2.6 registered bidders.

Auctioneer Justin Nickerson said a number of properties sold prior to auction. 

“It was another strong showing from South East Queensland last week, with the overall clearance maintaining its recent healthy climb," he said.

A number of properties again sold prior to auction, with sellers favouring the certainty of an unconditional contract over the risk of auction day.

"Registration numbers also remained solid, with the average boosted by a handful of auctions with double-figure bidder numbers."

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