Festive Buying Season, page-16

I am not sure I agree with your statement. First of all, the housing market here took off well before the Chinese property softened. Some of the money they made off Chinese market may have made its way here. There is also the crackdown against corruption by President Xi which caused more wealthy Chinese to siphon their money seeking a safe haven in Australia.
I do agree that the market now is akin to the height of the GFC.