Auction clearance rates rise

Auction clearance rates rose on average in Australia capital cities last week, despite an increase in the number of homes going under the hammer.

The number of auctions rose to 2,820 over the week ending Sunday, from 2,565 the previous week, according to CoreLogic RP Data's preliminary figures released on Monday.

But despite this 9.9 per cent rise, the auction clearance rate - the proportion of auctions ending with a sale - rose to 71.3 per cent, from 69.9 per cent a week earlier.