More than one in four homes were paid for in cash in the past year, with Queensland leading the eastern states for the number of purchases without a mortgage.
Data from online property settlement platform, PEXA, reveals 50,783 homes across the Sunshine State were bought with cash, with sales totalling $41 billion — driven by interstate retirees and vacant land sales.
The regional Queensland town of Tara topped the rankings, with a whopping 77 per cent of properties settled with cash in fiscal 2024. The median value of those cash sales was $105,000.
More than three quarters of the residential properties sold in the regional Queensland town of Tara are bought with cash. Picture: Liam Kidston
Cash purchases made up 28.1 per cent of all home sales in Queensland in fiscal 2024, followed by NSW with 27 per cent, and Victoria with 24.2 per cent.
PEXA Group’s chief economist Julie …