Many purchases were made in regional areas of NSW, Victoria and Queensland as buyers downsized to less expensive housing
More than one in four transactions for dwellings or land is settled with cash in Australia’s three most-populous states, with buyers largely unaffected by higher interest rates, data group Pexa said.
Many of the cash purchases (those paid for in full without a loan) were made in regional parts of New South Wales, Queensland and Victoria, often by retirees or others downsizing to less expensive properties. Cash purchases for foreign students or recent migrants also make up a sizeable share of sales in inner-city areas.
Sign up for a weekly email featuring our best reads
About Author
More Stories
Peter Dutton repeatedly charged taxpayers for flights coinciding with fundraisers
Internet shutdowns at record high in Africa as access ‘weaponised’
Squatters in flood-damaged homes to be evicted and properties demolished, NSW premier says