Australia’s auction market continues to power along as thousands of sellers put their properties up for sale under the hammer.

CoreLogic data shows that 2525 auctions were held across the capital cities last week, the second highest number of auctions of the Spring Selling Season. And numbers are tipped to increase in coming weeks, with CoreLogic currently tracking around 2600 properties scheduled for auction this week and more than 3,000 auctions over the following week.

Clearance rates nationally rose slightly from 66.6% last week compared with 63.9% the previous week. Although Melbourne had the highest number of auctions, it did not have the highest clearance rate. Its preliminary clearance rate was 64.8%, while the ACT was 71.2% – its highest rate since June. Sydney’s clearance rate was 69%, Brisbane 62.5% and Adelaide 67.5%.

According to CoreLogic, historically, the peak in auction activity is usually in late November or the first two weeks of December.