New research from mortgage provider RAMS Home Loans show first home buyers in Australia aren't overly concerned about foreign investor competition in the property market. Despite talk of overseas investment into the Australian property market, local buyers say they are not worried.

Only 14 per cent of home seekers and 6 per cent of recent first time buyers believe overseas investors are driving up property prices or are a competitor for their first home, according to a new first time buyer survey released today by RAMS Home Loans.

The survey features 600 Australians aged 20 and 49 either intending to buy a first home in the next 12 months, or had purchased their first home in the previous 12 months.

When questioned on perceived market competition, local investors were cited as a competitor when looking for their first home by only 21% of all respondents, with buyers ranking competition from local investors almost equal to that of overseas investors.

RAMS Chief Executive Officer, Melos Sulicich, said the data indicates that despite perceptions of overseas investors affecting house prices, buyers are making judgments based on their own personal experiences.

“In a competitive and diverse market it makes sense to do your homework. Attending auctions and talking to others buyers can be really helpful and dispel fear and market myths.”

The survey identified other first time home buyers (43% of home seekers and 38% recent buyers) and home owners looking to change home (28% of home seekers and 21% recent buyers) as first time buyers’ main concerns.