A preliminary weighted average clearance rate of 70 per cent was recorded this week across capital cities compared to 67.3 per cent last week and 70.2 per cent this time last year.

The market performed to recent trend this week and results between now and the Labour Day long weekend should provide a clearer indication as to the state of the auction market this year.

In Sydney a preliminary clearance rate of 77.9 per cent recorded compared to 80.6 per cent last week and 80.2 per cent last year. The Sydney auction market has not shown any sign of weakness following the stand out year in 2014.