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From what I have heard foreign buying in these areas peaked 6-12 months ago when the dollar was low (yuan pegged to USD). I doubt if you subtract the buyers now unable to buy it is going to have a substantial effect. Big media beat up well after the fact perhaps.... Now where is that elusive...

Good luck waiting for that.

That is coming off the GFC lows though. I would say prices on those suburbs are about 15%-20% above the peak of 2007 levels.

Maybe the current rise has another 6 months in it, not sure. I think we are going to seee a few years stagnation perhaps after that. I think it will take more than rising interest rates to see a big drop. Probably would need a change of tune of FIRB, crash in China's economy, stock market bear...