Most Aussies believe Chinese investors are raising housing prices

The research recently published by the University of Technology Sydney (UTS) has explored Australian views on the country’s relations with China.

The survey of 2,000 people included perspectives on real estate, with Australians expressing concerns about Chinese investment.

A clear majority (82 per cent) of respondents agreed that “foreign buyers from China drive up Australian housing prices”. A tenth of people were neutral on the thought, while 8 per cent disagreed.

Most (88 per cent) older Australians (aged 55 and above) said foreign buyers from China had raised house prices, while 86 per cent of Liberal/Nationals in the 2019 federal election agreed.

Seven in 10 (69 per cent) believed Chinese investors in Australian real estate have made it difficult for first home buyers to enter the market. A fifth were neutral on the statement, while 11 per cent disagreed.

Notably, respondents who voted for the Liberal/Nationals party at the 2019 federal election were more likely to say that Chinese investors had made entering the property market harder to achieve, with 86 per cent agreeing.

The same proportion (69 per cent) said that Chinese investors have negatively affected the rental market for residential real estate. A fifth (21 per cent) expressed neutrality and 10 per cent disagreed.

South Australian residents (at 77 per cent) were more likely to agree, compared with other states such as Western Australia (52 per cent).

Almost four in five (78 per cent) said Australia should restrict the amount of investment in residential real estate that is permitted from Chinese investors, while 7 per cent disagreed and 15 per cent were neutral.

The majority (86 per cent) of older Australians (aged 55 and above) were likely to agree, compared with 69 per cent of respondents aged 18-34.

The majority of Liberal/Nationals voters were also more likely to agree (83 per cent).

A third (33 per cent) believed that Chinese investment in Australian residential real estate brings many benefits for Australians, such as construction, new dwellings and jobs, but the majority (43.4 per cent) disagreed, while 23 per cent were neutral.

Younger Australians (aged 18-34) were more likely to agree, at 38 per cent, while 24 per cent of those aged 55 and above were less likely.

[Related: Australian cities’ house prices among world’s fastest rising]