Clearance rates and auction numbers are down slightly on the previous week, according to the latest analysis of the Australian auction market.

Nationally the clearance rate last week was 69.1% compared with 72.4% the previous week.

Adelaide remains one of the strongest performing auction markets with almost three quarters, 74.8%, of properties selling under the hammer.

Brisbane had a clearance rate of 70.9%, followed by Sydney, 70.8%, Melbourne 70.7% and Canberra 58.2%.

The number of properties offered for auction last weekend, 1682, was significantly less than the 2377 properties taken to auction at the same time last year.

The top performing region in Australia was Sydney’s City and Inner South with a clearance rate of 83.3%, while Melbourne’s outer east has a clearance rate of 79.6%.

Of the larger regional markets, Newcastle and Lake Macquarie had the highest clearance rate last week of 65.4%.

According to CoreLogic figures auction clearance rates for 2023 have been substantially higher than late last year.