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.
