Are foreign buyers trumping locals attempting to buy property? CoreLogic RP Data

Respondents to the the CoreLogic RP Data Nine Rewards Consumer sentiment survey are concerned about foreign buyers pushing prices higher across the housing market, with 73% of all respondents nationally indicating they thought foreign purchasing was making it more difficult to own a home.

19% of respondents perceived foreign buyers were placing ‘Extreme upwards pressure’ on housing prices and 30% (the largest proportion) thought foreign buyers were exerting ‘strong upwards pressure’. Only 6% of respondents though foreign buyers weren’t effecting housing prices at all.

The regions where foreign buying was perceived to make it most difficult for residents to purchase a home were Sydney, regional New South Wales, Melbourne and Tasmania where are least 79% of respondents perceived foreign buyers were making it more difficult for Australian residents to purchase their own home.