The Sydney weekend auction market continues to weaken, reporting its lowest clearance rate of the year on Saturday.

It was the third consecutive weekend the clearance rate had fallen, with a 67.7 per cent rate on Saturday, down from 70.3 per cent the previous weekend, and well below the 88.2 per cent recorded over the same weekend last year.

Sydney clearance rates have averaged 70.6 per cent since Easter, compared with 75.1 per cent before the break.

The rates are now showing definite signs of weakening following a solid start to the year. This week’s lower results however have been affected by the school holidays, particularly with lower numbers of popular higher-priced inner-suburban homes on offer.

Just 360 homes were listed for auction on Saturday, well below the previous weekend’s 523 and the 732 reported over the same weekend last year.

The Blue Mountains reported the highest clearance rate of 100 per cent from one reported auction. Next highest was the lower north with 85 per cent, followed by the north-west with 83.3 per cent, the city and east at 82.5 per cent, the inner-west at 77.8 per cent, the northern beaches and the south, with 71.4 per cent, Canterbury-Bankstown at 65.4 per cent, the upper north shore at 61.3 per cent, the central coast and the west, each with 50 per cent, and the south-west with a clearance rate of just 28.6 per cent from 21 reported auctions.

Notable sales reported at the weekend included:

A five-bedroom home at 145 Arden Street in Coogee, sold by McGrath Coogee for $3.57 million;

A three-bedroom unit at 1102/21 Elizabeth Bay Road in Elizabeth Bay, sold for $2,582,500 by Belle Property Newtown;

A four-bedroom home at 30 Hilltop Road in Avalon, sold for $2.5 million by Raine and Horne Palm Beach Avalon;

A three-bedroom home at 20 Fowler Street in South Coogee, sold for $2.46 million by Anthony Trees First National and;

A four-bedroom home at 10 Fitzgerald Street in Queens Park, sold by Phillips Pantzer Donnelley for $2.42 million.

Full list of Sydney’s auction results here.

Sydney recorded a median auction price of $1,150,000 on Saturday, which was below the $1,210,000 recorded last weekend, however the median remained 12.2 per cent higher than the $1,025,000 recorded over the same post-Easter weekend last year.

A total of $186 million was reported sold at auction in Sydney on the weekend.

Auction numbers will rise next weekend, with more than 400 homes set to go under the hammer despite the Anzac Day long weekend.

Confidence is set to be tested by falling clearance rates and the nature of a possible changing market to be fully revealed in coming weeks.

Dr Andrew Wilson is Domain Group Chief Economist. Twitter@DocAndrewWilson; My Property, Radio 2UE, Fridays 2-3pm, Saturdays 12.30-1pm.