Melbourne auction results

Melbourne was the standout in last week's auction results, with agents attributing proactive bidding to an undersupply in the market.

Sydney will most likely return its highest weekly clearance rate in more than a year following a significant rise in last week's results.

An increase in Brisbane auction volumes across last week has been met with a reduced clearance rate across the city, suggesting vendors are confident in direction of the market.

The renewed confidence which headlined auction results in the week following the election is still yet to reach vendors, according to CoreLogic.

The absence of any political uncertainty has been reflected in the auction results for the week ending May 26, with more than 2000 auctions held across the capital cities.

Months of political uncertainty culminated in a predictably soft auction market last week, as less than 1000 homes went under the hammer across the capital cities. 

The last weekend before the federal election put any hopes of a further rebound from the Easter/Anzac Day public holiday to rest, as volumes decreased across the capital cities.

Increased volume nationally and another strong Sydney clearance rate have featured in auction results for the beginning of May.