Same thing here in spades in SE Oakville. Houses are selling in days at well over asking. Majority of the purchasers are Asian - Chinese, to be specific, and frequently from a location far way from Toronto....
Often the purchasers do not even move in but rather a 'For Lease' sign appears on the lawn shortly after a sale. You never ever saw houses for lease in SE Oakville a few years back.
This not conjecture or just based on my personal observations but rather has been confirmed by numerous people in the residential real estate industry.