More than $122bn worth of houses and residential land were cash funded last year
Follow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcast
More than a quarter of residential properties sold in Australia’s eastern states last year were bought without a mortgage, suggesting there is a sizeable cohort unaffected by aggressive interest rate rises aimed at taming inflation.
Roughly 25% of home and land sales in New South Wales, Queensland and Victoria were made without a mortgage, according to the property data firm PEXA.
Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup
About Author
More Stories
Russia-Ukraine war live: Moscow says Kyiv plot to kill high-ranking officer with music speaker bomb foiled
Trump asks US supreme court to pause ban-or-divest law for TikTok
‘I don’t want flowers, I want my Ukraine’: women’s acts of resistance against Russian occupation