A Quarter of Homes in Eastern Australia Purchased Without Mortgage in 2022

Prospective buyers attend an auction of a residential property in the suburb of Strathfield in Sydney, Australia, on May 8, 2021. Lisa Maree Williams/Getty Images

Over a quarter of residential properties purchased in Australia’s eastern states in 2022 were mortgage-free, indicating that a significant portion of the population was not affected by interest rate hikes.

Property data firm PEXA has released a report that analyses residential property purchases in the states of New South Wales (NSW), Victoria and Queensland between January 2019 and March 2023.