From Westpac’s Red Book:
….the situation around housing does appear to be shifting. We highlighted a sharp fall in the ‘time to buy a dwelling’ index as last month’s most signiﬁcant development, warning that unless there was an equally sharp reversal in Aug it would likely mark the beginning of a further leg to the housing slowdown. The Aug update posted a solid but insufficient reversal. Home buyer sentiment does appear to be breaking lower and a further weakening in activity is now likely towards year end…..