Yes it is a scam.

In Australia Paypal do not hold funds until item is shipped to buyer. 

Report the buyer to ebay - probably quicker to ring them, or get them to ring you back to report - than trying to find a link where you can report a buyer.

Request eBay to cancel the transaction - if they won't then open a non-payment dispute as soon as you can on the 30 November after 4.40pm EST , then close it 4 days after that - when it shows in the resolution centre "you can close this case now" - you then get your final value fees back.