Sydney property investors are more likely to support foreign investment in their property market than non-property investors, according to a new survey conducted by academics Dallas Rogers, Alexandra Wong, and Jacqueline Nelson.
Rather surprisingly, aspiring homebuyers—many of whom find themselves increasingly priced out of Sydney’s notoriously expensive housing market—are also more likely to be supportive of foreign property investment in Sydney than those who aren’t looking to enter the housing market.
“[Twenty-nine percent] of the investment property owners agreed that “foreign investors should be able to buy properties in Sydney” compared to 17% of those without investment properties,” the academics told The Conversation. “They were similarly supportive of foreign students being allowed to buy properties while studying in Australia, with 32% agreeing with this compared to 19% among those without investment properties.”
Property investors were also more positive about the government’s regulation of foreign investment, with 28% agreeing it was being effectively regulated, compared to 16% of those without investment properties.