Properties have been selling quickly in the first days of spring as the market looks to make a recovery from last year.
Australian Property Monitors and the Real Estate Institute of Victoria (REIV) said the Sydney and Melbourne markets are up 63.9 per cent and 63 per cent respectively.
The highest selling property on the first day of September was a five-bedroom Willoughby home that sold for $2.3 million.
Melbourne too has seen a bumper start to the season, with local buyers advocate Mal James telling Fairfax Media that the turnaround from winter has been extraordinary.
"Last weekend just one in five sold under the hammer, this week it was more like one in two.
"Every second auction we went to had two, three or four bidders," he said.
The strong start to the season is a positive sign in what was a lacklustre 12 months, which saw overall sales in all capital cities drop by three per cent.
The REIV stipulates that the number of properties up for auction will slowly increase from weekend to weekend as the market warms up.
