This would have been unthinkable only a decade-and-a-half ago.
Word has it that Hobart has also seen record Chinese tourism spend over the past year.
Or, put another way, Australian assets have become 9 per cent cheaper.
$60 billion investment
To date Chinese investment has been overwhelmingly focussed on the most familiar capital city property markets of Melbourne and Sydney, with around 80 per cent of foreign investment hitting Victoria and New South Wales.
Tax proposals to backfire?
However, the Victorian government may have shot itself in the foot quite spectacularly through the announcement of a proposed 3 per cent stamp duty surcharge and additional land tax on foreign investment in property.