MEL 737 F/O was the most junior position in the recently released training slots for the next 12 months.
I don't have a current seniority list, but I would suggest it's currently under 12 months from joining to an F/O spot on the 737 in Melbourne. This may change rapidly.
Although Perth has traditionally been the most junior base, Keg opined elsewhere that the reason MEL may be more junior now is base balancing. ie. the company can't find the F/Os wanting to become Captains they need who are willing to go to Perth so there's no point sending a bunch of F/Os to Perth if there's no-one to fly with. Makes sense to this casual observer as the most junior 737 command in Perth was about 80 numbers junior to the most junior in Melbourne.
It's either that or they reckon they've got the numbers right in Perth as the Network flying starts to expand.