The clearance rate remained below 65 per cent last week, but despite the more subdued tone, some agents are still recording top results.

CoreLogic's preliminary clearance rate for the combined capital cities last week was 64.5 per cent, up modestly from the previous week's final clearance rate of 62.8 per cent.

Last week's final rate is likely to be revised lower.

Source: CoreLogic.

Brisbane home sells prior to auction for near record price

Queensland Sotheby's International Realty agent Malcolm Li, told WILLIAMS MEDIA the Stretton property on an acre of land sold prior to auction for $2.3 million, the second highest sale for the suburb this year.

The seven bedroom, three bathroom home sold to one of Li's buyers who had been looking for 18 months. When the right property came along he made an unconditional offer straight away, said Li.

"At the top end [of the market] it’s a really good time to sell because of the limited stock and opportunity to get into this tightly held market," says Li.

"I have had huge interest in acreage properties," he said.

"People see the value of the land, and capital growth in future, especially if the land has potential developments opportunity."

Li said that most interest is from the local Asian community and new Asian immigrants. He said these groups have strong feelings for the large blocks of land.

"In most Asian counties, traditionally, the big block land mean high society status, power and fortune," said Li.

Sotheby's also sold this year's suburb high - at 115 Frizzell Street, Stretton - three weeks ago under hammer for $2.72 million.

Li says his average days on market in Stretton is down to 14 days, and he is achieving an average sales price in the suburb of $2.1 million.

Li said he has sold almost $10 million worth of acreage properties in the last quarter alone.

In Victoria, apartments sold better than houses, and regional areas achieved top clearance rates

REIV CEO Gil King told WILLIAMS MEDIA there were 663 auctions reported to the REIV on the weekend, and a preliminary clearance rate of 67 per cent recorded.

The clearance rate was slightly down on the previous week’s 69 per cent.

“We are continuing to see opportunities for buyers to enter the market and also some strong results for vendors.

“With school holidays over [in Victoria], auction activity will increase over the next fortnight," said King.

The 73 per cent clearance rate for units was ahead of the 66 per cent rate for houses.

Melbourne's inner suburbs experienced the strongest clearance rate last week, with 73 per cent sold.

Preston, 9km north of the CBD, was the top performing suburb with 11 of 12 listings sold under the hammer – a 92 per cent clearance rate.

In Richmond and Yarraville, seven properties were sold under the hammer, with 78 and 88 per cent clearance rates respectively.

Victoria's regional areas also performed well, with both Echuca and Benalla recording 100 per cent clearance rates from four and three auctions respectively.

“Auctions in regional Victoria represented a lower percentage of state-wide auctions, but achieved the highest clearance rate of 78 per cent," said King.

The urgency is out of the Sydney market

There were 774 auctions in Sydney this week with a preliminary clearance rate of 64.9 per cent, Leanne Pilkington, president of the REINSW told WILLIAMS MEDIA.

The Eastern Suburbs, North Sydney, and Hornsby are seeing clearances between 78 and 79.7 per cent demonstrating the ongoing strength in those markets, said Pilkington.

Pilkington said the urgency has gone out of the market, which is seeing more sustainable prices.

"Agents in general are reporting that buyers are not acting with the same level of urgency as they were last year and that is keeping prices stable," she said.

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