Annual population growth has ramped up in New South Wales too at +116,400.
Forget any chance of an oversupply in Melbourne dwellings: Pete Wargent
Over the year to March 2017 Victoria delivered an impressive 66,085 new dwellings, 31,337 of which were attached dwellings of one sort or another.
Yet annual population growth has exploded to +146,600.
In short, you can basically forget any chance of an oversupply in Melbourne until population growth comes down from the stratosphere.
It's not happening, and indeed Melbourne's vacancy rates appear to be approaching decade lows.
Annual population growth has ramped up in New South Wales too at +116,400.
Finally, Western Australia saw the completion of 28,535 dwellings in 2016, yet population growth slowed sharply to 16,835, illustrating what can happen to population growth in an economic slowdown.
Population growth appears to have bottomed out in WA in line with a number of other indicators, but there is now a clear oversupply of dwelling stock to be absorbed.
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.
His latest book is Four Green Houses and a Red Hotel.