Sub-regions have stolen the show from capital cities in the CoreLogic auction results from the week up to April 7. 

According to the data, Sydney's South West recorded a clearance rate of 87% per cent from 23 auctions, while Melbourne's North West had a clearance rate of 68.7% from 74 auctions. 

Sydney's overall preliminary clearance rate was 61.9% from 740 auctions, meaning it had a higher rate but less volume than Melbourne, which recorded 58.1% from 899 auctions,

CoreLogic analyst Kevin Brogan said the high numbers in certain regions reflected the varied climate across the major cities.

"When we look at capital cities, they are kind of an aggregation of lots of different markets," he said. 

"In Sydney, the Central Coast only had a clearance rate of 27%, which shows the huge variance in market conditions across the city."

Nationally, there were 1,978 auctions were held across the combined capital cities, returning a preliminary auction clearance rate of 57.2%.

Over the previous week, a final clearance rate of 50.9% across 2,164 auctions was recorded making it the third consecutive week where the clearance rate has held above 50 per cent.

With only one complete auction week left before Easter, CoreLogic predicts the national auction to rise to 2098 for the coming week, led by Sydney (863) and Melbourne (865).

Across the smaller auction markets, Canberra, Perth and Tasmania saw an increase in the number of homes taken to auction this week, while Adelaide and Brisbane saw lower volumes week-on-week. 

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 The auction predictions for the next week. Source: CoreLogic

Sydney

The final clearance rate in Sydney has held above 52% for the last 5 weeks, and looks set to do the same in the latest results.

REINSW President Leanne Pilkington said there was a consistency in the current market that was lacking at the end of last year. 

"Agents are reporting there are more buyers around, and whilst some niche properties are selling well, most buyers are extremely price conscious," she said.

"The feeling is that there will be no significant change in the market this side of the Federal election."

The auction highlights for 167-173 Auburn Street Goulburn, which was sold for 4.8 million by Cushman and Wakefield Sydney. Source: Cooley Auctions

Among the properties scheduled to be auctioned last week was 3103/100  Gloucester Street, which was withdrawn. 

Agent Craig Donohue of McGrath Edgecliff said he expected the property to be sold "in the next week".

"We are in negotiations with a couple of parties, but neither of them would have been able to perform at auction, so we decided to have a private treaty instead," he said.

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3103 /100 Gloucester Street, Sydney was among the properties to be withdrawn from auction last week. As seen on Luxury List.

Melbourne

Melbourne was host to 899 auctions this week with preliminary results returning a 58.1 per cent clearance rate.

Over the previous week, 978 auctions were held across the city with the final clearance rate coming in at 52.1 per cent. This time last year, 723 homes were taken to auction and a final clearance rate of 68.2 per cent was recorded. 

Of the sub-regions, the Inner East, North West, Outer East and South East all recorded clearance rates above 60%.

Brisbane

Brisbane recorded a preliminary clearance rate of 28.9% from 127 auctions, compared with 39.7 from 95 auctions at the same time last year. 

Apollo Auctions Auctioneer Justin Nickerson said South East Queensland had "bounced back" from the previous week with a clearance rate of more than 50%.

"Sales prior to auction continue to fuel the market, as vendors are looking to capitalize on no-risk contracts with pre auction buyers," he said.

"Registration numbers for auctions remain slim, but those who are registering generally participate resulting in a strong active bidding percentage."

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