The number of properties being offered for auction continues to rise, although it is still below the level it was at the same time last year. Despite the higher auction volumes occurring, clearance rates have remained above 60%.

CoreLogic figures show 2,393 homes were taken to auction across the combined capital cities last week, the busiest week since mid-June.

That is 4.1% higher than the previous week, but still 43% lower than this time last year when 4,251 properties were offered for auction.

The national auction clearance rate last week was 62%.

Smaller capital cities continue to record strong clearance rates with Adelaide the highest rate of 66%, followed by Canberra on 63% and Brisbane 47%.

Between the two bigger capital cities, Sydney had the higher clearance rate of 64%, followed by Melbourne’s 61%.

Melbourne had the largest number of properties taken to auction, 987, followed by Sydney 933, Brisbane 154, Canberra 152 and Adelaide 148.