Let's step today's the key figures in three short parts.
Part 1 - Price indexes
Established house prices in Melbourne have also performed strongly to be up by +11.5 per cent over the year, but on average attached dwellings price growth in the Victorian capital has been more contained at +4.5 per cent, reflective of the volume of new supply.
Part 2 - Stock value
Part 3 - Volume of dwelling stock
Despite this, Western Australia (+8.6 per cent) and Victoria (+7.9 per cent) have made valiant attempts to increase the total supply of dwellings since the the equivalent quarter 2011 according to the ABS data series.