Australia’s property market remains active, with almost 2,500 homes auctioned across the capital cities last week and another 2,000 set to go under the hammer this weekend.

The combined capital city clearance rate came in at 68.7%, reflecting continued buyer demand.

Melbourne led with the highest clearance rate of 70.6%, followed by Sydney at 69.1%, Brisbane at 61.5%, and Adelaide at 60.8%.

As auction activity remains strong, property listings are also on the rise.

New listings increased by 16.4% in the past month, according to REA Group, but remain 7.9% lower than the same time last year.

While month-on-month listings are up across all capital cities, year-on-year increases are only seen in Brisbane and Adelaide.

PropTrack senior economist Eleanor Creagh notes that both capital city (-7.0%) and regional (-9.5%) markets have fewer new listings compared to last year.

In Sydney, new listings are down 7.3%, while Melbourne has recorded a significant drop of 15.1%.

On the other hand, Adelaide’s listings have grown by 7.1% and Brisbane’s by 4%, highlighting these markets as potential opportunities for investors looking at emerging supply trends.