According to preliminary data from Australian Property Monitors, 81.5 per cent of auctions in Sydney last weekend ended in a sale.
By comparison, on the same weekend in 2013, only 66.5 per cent of auctioned properties were sold.
Home sold under the hammer for a median value of $1,025,550 while units went for a median of $729,000.
Nonetheless, the number of auctions in the city was slightly lower this weekend than previous weeks, with only 352 houses offered for sale.
Melbourne, on the other hand, saw 554 auctions take place across the city, of which 73.1 per cent resulted in a sale.
Melbourne’s median auction prices were significantly lower than Sydney’s, at $760,000 for houses and $528,000 for units.
These results are a marked drop from last year, where Adelaide had 67 auctions take place and Brisbane had 89.