So says ANZ:
It is possible that the auction clearance rate will lose meaning as an indicator in a world where it takes much longer to secure mortgage financing than in the past. Indeed, the role of auctions may diminish sharply – with the change being structural rather than the usual cyclical downturn (which sees auctions lose favour in a weakening market)
Credit growth is still slowing, but it was not slowing as much in Septembers as the previous month. And August did not slow as quickly as July.
