The national auction clearance rate achieved a two-year high of 76.6% last weekend based on CoreLogic figures, providing evidence of further strengthening of house prices.

This was well above the previous week’s final clearance figure of 67.8%, despite the total number of scheduled auctions rising to 1,221 from 1,111 a week ago.

Leading the pack was Sydney, with a clearance figure of 81.7% from 444 auctions, up from a final 76.2% the previous week, while Melbourne returned 78.3% from 588 auctions, up from a final 72.3%. The smaller markets – Canberra, Perth and Adelaide – also performed strongly returning clearance rates of 81.8%, 71.4% and 70.4% respectively.

CoreLogic’s daily index shows house prices are set to rise moderately again in August, building on the small gains recorded by Sydney and Melbourne over the past two months. Domain, which recorded a 73.4% national clearance figure, reported the top result was the sale of a Toorak home for $7.05 million.