House Auction in Sydney:Most Participants and Final Buyer Are Chinese

At an auction in #Eastwood, a predominantly #Chinese residential area in #Sydney, #Australia.
Nearly 200 people attended, with most of them being Chinese.
The final competition for the property occurred between two Chinese families. Eventually, the property was sold for AUD 3,218,000, setting a new record for property transactions of this kind in the area.
More than a decade ago, when I was still living in Australia, local residents were quite unhappy because they believed that a large number of Chinese buyers were driving up Australian property prices. It seemed that the government had also introduced some policies to restrict this, although I can't recall the specific measures.
It appears that the current situation is still somewhat the same. Currently, many Chinese individuals are looking to move their assets out of #China, and purchasing property overseas remains a viable option.
Have there been any instances in your local area where property prices have been affected by an influx of Chinese buyers?
#RealEstate
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