The housing market showed signs of bouncing back in the June quarter as the auction clearance rate hit a one year high across Australia's capital cities.

Across those major centres about 69 per cent of the 854 homes offered were sold under the hammer last week, preliminary clearance rate figures from data provider CoreLogic show. This time last year, 1178 homes were auctioned, with a clearance rate of 52 per cent.

Auction clearance rates were up in both Sydney and Melbourne over the weekend. Credit:Peter Rae

"The improved trend in auction market results provides further evidence that housing conditions are stabilising, especially in Sydney and Melbourne, where a trend towards higher clearance rates has been most pronounced," CoreLogic analyst Cameron Kusher said.

But there is a caveat, fewer homeowners are putting their houses up for sale.