Sydney October 2009: 70%
October 2010 (so far): 62%3rd weekend October 2010: 56%
Melbourne 3rd weekend October 2009: 82%
3rd weekend October 2010: 66%
At the peak of the overseas buyer frenzy, Chinese citizens were estimated to have bought at least 80 per cent of all properties auctioned in some eastern suburbs of Melbourne.
"They're gone, as have other overseas buyers who can still buy off-the-plan homes, but they had been frightened off by the high Australian dollar," he said.