Sydney housing: People are indeed still buying housing, even first home buyers, but the way they are purchasing has changed, according to Australian Broadcasting Corporation. The past three years have seen the rise of the first time home buyer investor. Related Story: 'Get a good job': Hockey under fire over advice to first-home buyers Related Story: Hockey accuses critics of 'playing the man' over housing comments Map: Australia The Federal Treasurer, Joe Hockey, recently caused a storm by suggesting, among other things, that if Sydney housing was unaffordable no one would be buying it. A survey by Digital Finance Analytics shows that the proportion of first home buyers purchasing as an investor went from less than 5 per cent in April 2012 to 35 per cent by April 2015. One of those first time buyer investors is 26-year-old Caitlyn Black. "I was very keen on getting into the property market, but to afford somewhere in this area was going to be nearly impossible, so I decided to look further out and purchase as an investment property," she said. In Sydney, investors accounted for almost 60 per cent of first time buyers.
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Tagged under Sydney housing, investor topics.