Capital city auction clearance rates are edging up after tracking below 50% for five weeks, RP Data has indicated.

RP Data's newest Property Pulse has shown the weighted capital city auction clearance rate for the week ending 3 July was 52.5%, up from 46.9% the week prior. Melbourne saw the best result at 55.1%up from 52.6% the previous week.

Total property listings have remained at elevated levels, 28.6% higher than last year nationally and 25.3% higher across capital cities. The rental market, meanwhile, remains tight, with listings falling 2.7% over the past four weeks. However, rental listings remain 11.9% higher in capital cities than the same time last year.