The huge percentage of homes being purchased with cash

More than a quarter of home or land purchases in Victoria, New South Wales and Queensland are settled with cash, according to new research from data group Pexa.

Pexa chief executive Julie Toth says “typically between 20 and 26 per cent of all residential sales don’t need a mortgage”, and that figure is rising.

Ms Toth said two groups are likely purchasing most of the properties bought without a mortgage.

Press PLAY below to hear what’s fuelling the rising number of purchases without a mortgage

In Victoria, the suburbs with the highest percentage of properties purchased without a mortgage are Melbourne’s CBD, West Melbourne, Southbank, Mildura and Doncaster.