Despite predictions that its bullish property market may slow down this year, figures show significantly more homes have been auctioned this year in Sydney than last year.

This weekend 503 homes were listed to go under the hammer, well ahead of the 396 auctioned over the same weekend last year, but lower than the previous weekend’s 536.

Sydney reported a clearance rate of 70.2 per cent on Saturday which was similar to the 69.7 per cent monthly-low recorded last weekend but lower than the 75.7 per cent reported over the same weekend last year.​

​Sydney recorded a median auction price of $1,127,500 on Saturday which was higher than the $1,020,500 reported the previous weekend but 5.4 per cent lower than the $1,191,500 recorded over the same weekend last year. A total of $274.3 million worth of property was reported sold at auction in Sydney at the weekend.

Over the first seven months of this year, 19,221 Sydney homes have been auctioned which is a remarkable 31.7 per cent higher or 4628 more than the 14,593 listed over the same period last year.

Sydney’s home auction market was steady over July despite the usual mid-winter distractions and school holidays impacting buyer activity.

Sydney recorded an overall auction clearance rate of 64.9 per cent over the month which was similar to the 65.0 per cent recorded over the previous month but well below the 71.6 per cent recorded over the same month last year. Last year’s winter market was driven by interest rate cuts in May and August which aided in keeping activity in the local market bubbling along.

Although the monthly auction clearance rate was slightly down, mid-winter auction numbers remained strong despite seasonal effects. Over July 2867 homes were listed for auction which was well ahead of the 1884 listed over July 2016.

August will typically see higher numbers of auctions as the spring selling season approaches with buyer activity also set to rise. Unlike last year however, the market will lack the stimulus of lower interest rates with the Reserve Bank predictably deciding to leave rates on hold over August – where they will most likely remain for the rest of the year.

Auction numbers will surge next weekend with nearly 600 auctions scheduled.

The inner suburban market continues to produce strong results for most sellers, with the inner west a clear leader at the weekend again with a booming clearance rate of 87.0 per cent. Next highest was the lower north with a similarly strong 83.3 per cent followed by the city and east 76.5 per cent, the upper north shore 70.3 per cent, the northern beaches 69.4 per cent, the north west 66.7 per cent, the south west and the west each with 65.5 per cent, the central coast 60.0 per cent, Canterbury Bankstown 59.3 per cent and the south with a clearance rate of 58.5 per cent.

Notable sales reported at the weekend included:

An eight-bedroom home at 9 Adolphus Street Balmain sold by Coopers Agency for $4,300,000,

A five-bedroom home at 34 Tillock Street Haberfield sold for $3,850,000 by McGrath Leichhardt,

A six-bedroom unit at 1 and 2/23 Moore Road Freshwater sold for $3,565,000 by Belle Property Seaforth,

A three-bedroom home at 21 Byrne Crescent Maroubra sold for $3,480,000 by Belle Property Randwick

Another three-bedroom home at 4 Ocean Road Manly sold by Rowe Partners Real Estate for $3,380,000.

The most expensive house sold at auction was a three-bedroom unit at 20b Redan Street Mosman that sold for $4,700,000 by Max Walls International. The most affordable property reported sold at the weekend was a four-bedroom home at 84 Katoomba Avenue San Remo sold for $450,000 by Sorensen Real Estate.