Housing prices are continuing on their upward path, buoyed by the stream of finance flowing into the market.
Official figures from the Australian Bureau of Statistics last week showed prices for residential properties rose strongly in the final quarter of 2013.
A 4.7 per cent gain in Sydney led the national average up by 3.4 per cent in the quarter.
Annual growth for the nation was 9.3 per cent.
The figures were no surprise - corroborating more timely data from private sector sources.
RP Data's survey of home sale prices showed an average annual rise of 10.1 per cent for the five mainland state capitals, ranging from 2.2 per cent in Adelaide to 14.2 per cent in Sydney.
In the week ending Sunday, RP Data reported an average auction clearance rate of 71.8 per cent.
Australian Property Monitors reported auction clearance rates in the week ending Saturday were higher in Sydney and Melbourne, but lower in Adelaide and Brisbane compared with the week before.
The figures show an average clearance rate for those four cities combined was 75.7 per cent.
That was up from 71.5 per cent the previous week, despite a near-doubling of listings as the market resumed after the holiday break.
And it was well up from the 62.2 per cent clearance rate for the corresponding week a year before, despite a 39 per cent rise in the number of properties listed for auction.
And there's no prize for identifying the surge in finance behind the increases in prices and clearance rates.
Newly released figures from the ABS showed the value of lending approved for housing, including loans for investors, edged up marginally to $27.05 billion in December.
That new record high meant lending in December was up by $5.75 billion per month, or 27 per cent, from a year earlier.
No doubt there's even more being lent from outside of Australia - including lending by foreign branches of Australian banks - and more coming in from abroad in non-borrowed cash, but those amount do not show up in any published data.
In any case, the market is rising on a sea of credit and showing no sign of stopping at the moment.