Australia’s auction market remains strong as thousands of properties go under the hammer this spring.

CoreLogic reports that 2,525 auctions were held across capital cities last week, marking the second-highest auction count for the Spring Selling Season.

Auction numbers are expected to rise further, with around 2,600 properties set for auction this week and over 3,000 in the following week.

Clearance rates edged up to 66.6% nationally from 63.9% the previous week.

While Melbourne held the most auctions, it didn’t secure the highest clearance rate, achieving 64.8%. The ACT led with a preliminary clearance rate of 71.2%, its highest since June.

Sydney posted a clearance rate of 69%, Brisbane 62.5%, and Adelaide 67.5%.

According to CoreLogic, auction activity typically peaks in late November or the first two weeks of December.