Sydney recorded a preliminary clearance rate of 62.4 per cent last week, according to the latest data from CoreLogic. The result is an improvement on the 56.8 per cent recorded the previous week.

REINSW president Leanne Pilkington told SCHWARTZWILLIAMS the market is patchy across Sydney.

"The market across Sydney remains inconsistent at best, with some regions showing strong clearance rates and others struggling to attract buyers," she said. 

"The same can be said with attendance through open homes, with mixed results being reported across the state," she said.

Ray Fayad, agent with Laing + Simmons Granville, agrees. 

He told SCHWARTZWILLIAMS, "I agree it is patchy, based on location, but also based on property."

Fayad, who covers markets around Granville in Sydney's western suburbs, said he had three auctions last week. One had "aggressive" bidding and achieved an above-reserve price, but there was not such strong interest in the other two properties, he said.

Homes on a good-sized block, on a good street are still selling well, said Fayad.

But numbers at open homes are down, and the numbers of enquiries has drifted lower, he said.

There was a "rush" of properties onto the market in spring, said Fayad, with media speculation of a market correct prompting sellers to put their property onto the market ahead of any slowdown.

Fayad expects the market will resume strongly in the new year.

"In March or April it will be full steam ahead," he said, assuming economic conditions and lending arrangements remain steady.

Source: CoreLogic.

Pilkington said a number of agents are expecting stronger listings early in the new year.

"With Christmas only three weeks away agents are not expecting much to come on to the market between now and then, with many advising of strong listing numbers coming through in February," she said.

Source: CoreLogic.

Melbourne's clearance rate below 70 per cent for second week

REIV CEO Gil King told SCHWARTZWILLIAMS that Victoria's preliminary clearance rate was 68 per cent last week, the second week in a row below 70 per cent. The result was well below last year's 78 per cent clearance rate for the same week.

“Despite far from ideal weather conditions, more than 1,200 homes were auctioned this weekend with the statewide clearance rate slipping below 70 per cent for the second week in a row," said King.

Volumes were also lower, with 1,202 auctions held last weekend, compared with 1,262 auctions the previous year.

“Consistently high levels of stock on market since October is meeting buyer demand from owner-occupiers, while reduced activity from investors is also impacting the clearance rate," he said.

Melbourne's outer suburbs outperformed, with an average preliminary clearance rate of 74 per cent, led by Craigieburn which sold 13 of its 15 auction listings.

In the suburbs of Armadale (9) and Cheltenham (7), all properties put to auction were sold, said King.

Read more about auction markets:

Sydney's true clearance rate could be 40%: John Cunningham, REINSW

Melbourne's auction clearance rate holds below 70% for second week in a row

Canberra records nation's highest auction clearance rate