Published 2 months ago

More Australians are buying properties in cash. It risks making the housing affordability divide even worse

Summary by Ground News

$454.7 billion worth of residential property was purchased in the eastern states last year, with $129.6 billion paid for in cash. 28.5 per cent of properties sold in New South Wales, Victoria and Queensland last year were purchased without a mortgage. Cash buyers are typically older and retired, and benefit from higher savings rates offered by banks.

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ABC Australia

More Australians are buying properties in cash. It risks making the housing affordability divide even worse

More than one in four residential properties purchased in New South Wales, Victoria and Queensland last year were paid for entirely with cash by older Australians, highlighting the growing disparity in the property market.

2 months ago·Australia

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