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.
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trying to trend clearence rates is even more embarassingly...
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