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Property Auction clearance rates have improved somewhat all around the country last week.

Based on information provided by RP Data, results are still significantly weaker than in the first part of this year.  Clearly several interest rate increases in a row have had the desired affect of slowing down the property market.

Nationwide, the weighted average clearance rate was recorded at 64.6 per cent last week.

While Sydney’s clearance rate improved to 65.5 per cent, Melbourne saw a decrease to 73.5 per cent, one of its lowest results this year.

Brisbane and Tasmania both rated 26.7 per cent, while Perth and Adelaide rated 33.3 per cent and 51.3 per cent respectively.

Other than the increase in interest rates the changes to laws in relation to property acquisition by overseas residents have undoubtedly also had a slowing affect on the market.