Auction clearances have risen to their highest rate in four years as spring buying picks up, but experts warn the market is not strong and prices at the top end in particular are falling short of sellers’ expectations.

The combined capitals clearance rate for the week rose to 77.9 per cent from 71.7 per cent the week prior, making it the highest volume of sales since October 2021, Cotality’s auction data show. Nationally, 2675 homes went to auction, a solid 11.9 per cent rise from a week ago.