Yes we know that the FHBs are retreating from the market now...

Yes we know that the FHBs are retreating from the market now that there are no more grants and rates are up. That is why investors as a proportion of buyers has increased. I wouldn't be surprised to see that ratio increase much further.
Interestingly the clearance rates are also dropping.

"Tax Office statistics show that two-thirds of rental investors claim to be losing money on their investments."

Seems like a winner to me.