Lower screening thresholds encouraged greater investment in the agricultural sector from the US and UK, while there were also a few big ticket items in the commercial space.
The FIRB celebrated its 40th year in 2016, and never before can Board members have experienced such a surge in investment.
$49.7 billion of this amount related to commercial real estate, the commercial investments being heavily focused in Sydney, and to a far lesser extent Melbourne.
Residential investment explodes
Queensland (17 per cent) was the only other significant contributor.
There's no question that this construction cycle has been driven and sustained by unprecedented Chinese investment in new apartments, with a colossal increase in both the number and value of approvals.
However if foreign investors and/or developers are leaving units empty, then the impact of the record construction boom may be a little curtailed.