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Home sales higher after holiday slowdown

Home sales bounced higher across the capital cities in the past seven days, but the clearance rate continues to track lower compared to a year ago.

The national auction clearance rate rose to 68.1 per cent - up from 66.3 per cent in the prior week when volumes dipped due to long weekends in NSW and Victoria - but the rate is down on the 76.4 per cent recorded at the same time last year, preliminary figures from property data group Corelogic show.

Melbourne was the only city last week to record a rate above 70 per cent in the week to October 8 - reaching 72.1 per cent - while Sydney remained below for an 11th consecutive week.

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