Gil King REIV

CoreLogic's Property Market Indicator has revealed auction volumes more than doubled week-on-week across Australia's capital cities, after last week's long weekend lull.

Auction volumes fell significantly across Australia thanks to the Queen's Birthday long weekend in most states and territories.

While clearance rates across the country have recorded a decline over the weekend, the increase in housing stock coming to the market is positive news for buyers.

While preliminary clearance rates and auction volumes dropped slightly over the weekend, the prime markets in both Sydney and Melbourne performed well, as buyers seek 'safe haven' suburbs.

Auction volumes rose across the capital cities over the weekend, but a slump in Sydney auction results suggests a weakening market

Though the overall auction market is more subdued, agents are still recording top results for highly desirable properties.

Auction volumes and clearance rates are well down on last year's results.

Clearance rates softened last week, with volumes the highest so far this year.

With property markets returning to more moderate levels, it pays to work closely with buyers to secure sales, says Chris Hassall of Buxton Bentleigh.