Sydneysiders blame Chinese and other foreign buyers for high home prices

• SYDNEY residents have developed a deep-seated fear of foreign property investment and blame overseas buyers for driving up home prices, new research shows.

The study by academics at the University of Sydney revealed that more than 64 per cent of Sydneysiders thought foreign buyers were the main reason prices were soaring.

A similar proportion of the 900-odd people surveyed did not want the government to further encourage investment from overseas buyers.

They also wanted the government to intervene more to reduce purchases by offshore buyers.

Housing researcher Dallas Rogers, who led the study, said the government was already under pressure to reduce foreign buying.

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Prospective buyers examine a scale model of central Sydney at a property showcase in Shanghai.Source:News Corp Australia