A quarter of homes are bought mortgage-free

Data suggests most cash buyers are older homeowners who have already paid off their mortgages. Photo: AAP

More than a quarter of homes were bought without a mortgage last year, suggesting there’s a sizeable cohort insulated from aggressive interest rate rises.

Roughly 25 per cent of all sales in the eastern states – both dwellings and land – were made without a mortgage, according to property data firm PEXA.