australian home values higher in july, page-23

trying to trend clearence rates is even more embarassingly useless.


The RBA themselves recently released an article which mentioned the correlation between clearance rates, loan approvals and capital growth:

http://www.rba.gov.au/publications/bulletin/2010/jun/pdf/bu-0610-1.pdf

Seems like a pretty reasonable indicator to use to try and gauge where prices might be headed while we wait for the lagging loan and growth figures.