Setting aside your narrative of 'Invincible China', the fact is that house prices in Sydney and Melbourne had fallen 10% in two years, then the RBA dropped their nuts about where it was all heading and slashed interest rates down to 0.75%, and tipped to go even lower.
As stated previously, central banks won't let markets sort things out for themselves. They know an implosion of epic proportions awaits. So you can expect even lower interest rates + more stimulus. The economy is all out of balance and listing to starboard, heavily tilted towards propping up bubbles.
