Alan Kohler briefly mentioned this on an ABC news segment, commenting about the drop being mainly due to sharp downturn in Victorian figures.
These in turn accounted for as being due to an imminent change in legislation (drop in stamp duty or some such, can't recall exactly), so many applications delayed until January to take advantage.
Of course no reason the statistics can't be used to push whatever barrow you want moved though.
Bears... goes to show collapse is imminent... dadada
Big debtor... interest rates need to be cut further... dadada
