Earlier today RP Data released its final auction clearance rate result for last week

Earlier today RP Data released its final auction clearance rate result for last week. Across the combined capital cities, auction clearance rates reached their lowest level in 22 weeks with the result replicated across the two largest auction markets, Melbourne and Sydney. Across the combined capital cities, auction clearance rates were recorded at 63.5% down from 68.1% over the previous week. In Melbourne clearance rates were recorded at 65.5% compared to 69.6% the previous week. The number of auctions also rose significantly from 220 the previous week to 1,139 the previous week. In Sydney, clearance rates were recorded at 68.1% down from 75.6% over the previous week. The chart below shows the clearance rate across the capital cities.