Property markets around the country continue to soar as home owners seek to 'trade up' before anticipated interest rate hikes in the coming months.

At the weekend, Sydney auctioneers raked in more than $100m in sales, after listing 241 properties for auction -- 108 more than the previous weekend.

According to Australian Property Monitors, a waterfront home at southern Sydney's Kangaroo Point was the city's dearest sale at $3.4m, while a modest house at Tuggerawong sold for $260,000, tipping the city's sales over the $100m mark.

The auction clearance rate in Sydney was 69.7%, which was up 5.3% points from the corresponding weekend last year.

The Australian