The headline auction clearance rate ticked below 70 per cent for a second week as last month’s rate cut failed to translate improved sentiment into a stronger market in NSW, while public holidays and an ex-tropical cyclone dampened activity elsewhere around the country.

Clearances for the combined capital cities slipped to a preliminary 69.6 per cent from 69.9 per cent a week earlier as volumes dropped to a scheduled 1629 over the week to Saturday from 2749, according to CoreLogic figures on Sunday.