Rubbish Dalek, all of that is besides the point. The issue was how are clearance rates so high if loan approvals have dropped so consistently. Not sure what the auction numbers are like in other states but in Melbourne they've been very high and the clearance rate is generally 82-84% each weekend.
Either Aussies are cashed up and don't need loans, overseas buyers are buying, or demand will be falling soon and clearance rates will drop.
It's certainly not mathematically possible for clearance rates to stay so high if approvals keep dropping without people buying with cash, hmmm, cashed up Aussies or overseas buyers, I won't bother commenting on that one.
