The foreign-buyer wave came and went

FIRB-approved foreign investment in Australian residential real estate, $AUD billion, by financial year

Figures reflect approved proposed investment, including new dwelling exemption certificates issued to developers. Methodology changed from 2020-21 onwards (shift to settled-transaction reporting); under the newer methodology, 2024 calendar year approvals fell to $1.3 billion, with mainland Chinese buyers contributing $0.4 billion (FIRB Register of Foreign Ownership)
Source: FIRB Annual ReportsGet the dataCreated with Datawrapper