Last week’s interest rate cut had a patchy effect on auction results as buyers weighed up the prospect of lower borrowing costs against the tide of global and economic uncertainty and came up with different answers in each city.

In Sydney, the effect of the Reserve Bank’s interest rate cut and the prospect of more to come made buyers willing to offer more, pushing the preliminary auction clearance rate to 72.2 per cent from 65.3 per cent a week earlier, Cotality figures published on Sunday show.