Investors seen as smallest impediment to affording a home

According to data from CoreLogic, investors are seen nationwide as the least likely factor preventing people from getting their first home.

While the concept of owning a home, ‘the Australian dream’, is up in the air, investors have been revealed to be the least significant factor preventing Australians achieving that dream.

Data released by CoreLogic through the Perceptions of Housing Affordability report indicates that out of all potential impediments preventing Australians from getting on the property ladder, investors were the least likely factor preventing Australians from affording their own home, with only 27 per cent of respondents concerned.

The biggest impediments were revealed to be having the deposit and stamp duty, which were both tied at 44 per cent of respondents.

Following this was foreign buyers at 42 per cent of respondents.

Breaking down the concerns of investors in the market affecting housing affordability to a state level, Australians from NSW were the most concerned with investors preventing them from affording a home at 42 per cent of respondents. The least concerned were Western Australians at 30 per cent of respondents.

Looking at the concerns of foreign buyers in the market as an impediment to housing affordability, the most concerned state again was NSW at 46 per cent of respondents, and the least concerned was South Australia and the Northern Territory combined at 35 per cent of respondents.

Millennials, Generation X and Baby Boomers all weighed both investors and foreign buyers influencing housing affordability equally. Baby Boomers were the most concerned age group of investors and foreign buyers being impediments to housing affordability at 40 per cent and 48 per cent of respondents respectively, Generation X at 37 and 45 per cent of respondents respectively, and Millennials were the least concerned with both investors and foreign buyers, at 34 and 35 per cent of respondents respectively.

Respondents living in apartments were more concerned with investors impacting affordability, with 45 per cent of respondents, compared to 37 per cent of those living in houses.

Also revealed was that 43 per cent of investors own their home mortgage free, while 41 per cent are paying off their home with a mortgage. Furthermore, 11 per cent of investors are renting, and 5 per cent live with parents.

Investors seen as smallest impediment to affording a home
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