More than one in four properties purchased with cash, report finds

Cash buyers, a group rich with assets and no need for mortgages, snapped up more than one in four properties across Australia's three largest states in 2023.

A report released today by PEXA, a property analytics firm, said the large-sized group of cash buyers seemed "immune to recent interest rate hikes" and their financial flex helped explain the property market's resilience last year, when interest rates ramped up.

But PEXA's chief economist Julie Toth cautioned the cash buyers, often flush empty nesters and international investors, "could be exacerbating the existing intergenerational wealth divide" when it comes to housing affordability.

To read continue: https://www.9news.com.au/national/more-than-one-in-four-properties-in-australia-purchased-with-cash-report-finds/97d20338-66e3-40cc-aa35-e2213beff7a8