brisbane auction results

1,986 homes in capital cities were taken to auction last week, a 21% increase from the week before, with a 74% clearance rate

The combined capital city preliminary auction clearance rate has risen above 60 per cent for the third consecutive week, with Sydney and Melbourne both returning rates above 70 per cent for the week ending June 30.

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.