Sydney leads as national clearance rate dips: RP Data's national auction wrap

A preliminary weighted average clearance rate of 65.9% was recorded this week across capital cities compared to 68.9% last week, and 70.1% this time last year. 

The lower clearance rate was a result of a softening in the Melbourne market. This contrasted with the very buoyant outcome in Sydney and Adelaide.

Sydney continues to be the capital city with the strongest and most consistent auction market. A preliminary clearance rate of 75.5% was recorded this week compared to 76.7% last week.

The lowest result in nine weeks occurred in Melbourne where a preliminary clearance rate of 63.9% recorded compared to 69% last week.

Auction numbers have risen in the inner east after a seasonal lull. Rising stock numbers in the next month will clearly test the market.

In Brisbane a preliminary clearance rate of 35.3% was recorded compared to 36.7% last week.

Adelaide recorded a very strong clearance rate of 75% compared to 61% last week.

Low stock numbers at this time of the year can affect the clearance rate by making in more variable than in spring and summer.

In Canberra a clearance rate of 45.8% was recorded and in Perth there was a clearance rate of 66.7%.