It's true that local lenders have generally stopped financing offshore property buyers, and this has changed the immediate dynamics in the Aussie housing market, slowing transactions and settlements, and eventually leading to a slowdown in apartment construction.
And one thing we know about China is that when something becomes an entrenched trend, due to the sheer weight of numbers it really makes a massive impact.
Permanent settlers in Australia were previously being recorded at about 20,000 or so per annum from China.
I know a bit about this myself, since I spend time overseas every year, yet am considered a permanent resident of Australia.
Many of the Chinese in Australia are present on temporary visas, visitor, family, or student visas, often with a view to achieving residency down the track.
The Census noted that in total there were more than 1.21 million Australians of Chinese heritage.
These are astonishing demographic shifts in a comparatively short period of time.
It helps that Australians speak English, too, while the relative proximity to China can be viewed as a benefit.
Contrary to the daily headlines, real estate in many parts of Australia's cities is comparatively cheap.
Chinese migrants to Australia can aspire to own a big house, on a big block, and with a big car in the garage too.
At least notionally Australia does not have rigid class structures, 'old money', or the perceived stiff attitudes of other parts of western culture. You can wear shorts and thongs in Australia, and nobody cares.
We know from experience elsewhere that migrants hailing from a certain region tend to beget more migrants, and we're certainly seeing that in the international student sector.