PEXA’s latest Cash Purchases Report reveals that in FY24, 140,572 ‘cash purchases' – meaning properties funded without a mortgage – accounted for 26.5% of all residential transactions across Australia’s eastern states of New South Wales, Victoria, and Queensland. Read the full report: https://lnkd.in/g3VEsnWE ➡️ Swipe to see the top postcodes for cash spending across QLD, NSW and VIC. #propertymarket #ausproperty #CashPurchasesReport Julie T. Marcella Choy Kate Prigg Land Insight Tim Osborne
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Recent research from PEXA reveals that a steady portion of residential property sales are conducted without the need for a mortgage (26.5%). However, there are subtle shifts in the locations and circumstances of these cash purchases. These findings offer valuable insights into a previously underexplored segment of Australia's housing market. Read the full report: https://lnkd.in/g3VEsnWE You might even find some commentary around environmental risk ! Fantastic insights by the research team! Julie T. Marcella Choy @Kate Prigg Eliza Brockwell #property #insurance #conveyancing #research #environment #environmentalrisk #bushfire #floodrisk #contaminationrisk #research #duediligence #lending #spatialfinance #climateresilience
PEXA’s latest Cash Purchases Report reveals that in FY24, 140,572 ‘cash purchases' – meaning properties funded without a mortgage – accounted for 26.5% of all residential transactions across Australia’s eastern states of New South Wales, Victoria, and Queensland. Read the full report: https://lnkd.in/g3VEsnWE ➡️ Swipe to see the top postcodes for cash spending across QLD, NSW and VIC. #propertymarket #ausproperty #CashPurchasesReport Julie T. Marcella Choy Kate Prigg Land Insight Tim Osborne
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Latest research from PEXA indicates a reasonably consistent share of residential property sales do not require a mortgage, but subtle changes are occurring with regard to the locations and circumstances of these sales. Valuable insights into a previously overlooked segment of Australia’s housing market by PEXA and Land Insight Marcella Choy Kate Prigg Eliza Brockwell Tim Osborne
PEXA’s latest Cash Purchases Report reveals that in FY24, 140,572 ‘cash purchases' – meaning properties funded without a mortgage – accounted for 26.5% of all residential transactions across Australia’s eastern states of New South Wales, Victoria, and Queensland. Read the full report: https://lnkd.in/g3VEsnWE ➡️ Swipe to see the top postcodes for cash spending across QLD, NSW and VIC. #propertymarket #ausproperty #CashPurchasesReport Julie T. Marcella Choy Kate Prigg Land Insight Tim Osborne
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PEXA's latest Cash Purchases Report. Tim Osborne, co-founder of Land Insight, highlights the importance of future homebuyers educating themselves on environmental factors before purchasing a property. Areas with high proportions of cash purchases often include risky investments like student accommodation, holiday homes, and properties in flood-prone areas, which may struggle to secure traditional financing. Talk to us if you want to find out more about Land Insight Enviro-Due Diligence Reports, which are also available through the Archistar.ai platform. PEXA
PEXA’s latest Cash Purchases Report reveals that in FY24, 140,572 ‘cash purchases' – meaning properties funded without a mortgage – accounted for 26.5% of all residential transactions across Australia’s eastern states of New South Wales, Victoria, and Queensland. Read the full report: https://lnkd.in/g3VEsnWE ➡️ Swipe to see the top postcodes for cash spending across QLD, NSW and VIC. #propertymarket #ausproperty #CashPurchasesReport Julie T. Marcella Choy Kate Prigg Land Insight Tim Osborne
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PEXA's latest Cash Purchases Report. Postcodes with a high proportion of cash purchases in FY24 were located in areas which had experienced recent flooding or are at high risk of future flooding. Homebuyers in these areas may have been potentially unable to secure a mortgage for these properties, due to the financial institutions’ perceived level of environmental risk. “This highlights the need for future homebuyers to better educate themselves and undertake their own due diligence on environmental factors before buying a home. Key considerations include checking for flood zones, bushfire risks, contamination risks. Understanding these environmental risks not only helps prevent unexpected costs but also provides peace of mind, ensuring a safer, more sustainable home purchase and securing of finance.” Tim Osborne - Co-Founder of Land Insight Full report: https://lnkd.in/g3VEsnWE Land Insight Julie T. Marcella Choy @KatePrigg Eliza Brockwell #duediligence #floodrisk #bushfirerisk #environmentalrisks
PEXA’s latest Cash Purchases Report reveals that in FY24, 140,572 ‘cash purchases' – meaning properties funded without a mortgage – accounted for 26.5% of all residential transactions across Australia’s eastern states of New South Wales, Victoria, and Queensland. Read the full report: https://lnkd.in/g3VEsnWE ➡️ Swipe to see the top postcodes for cash spending across QLD, NSW and VIC. #propertymarket #ausproperty #CashPurchasesReport Julie T. Marcella Choy Kate Prigg Land Insight Tim Osborne
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Niche problems require niche solutions 💡 So said a panel of experts, led by our CEO Peter O'Connor, as they discussed 'Strategies for supporting UK first-time buyers' at the recent Building Societies Association annual conference. 🏡 Here's a quick summary of the key points: ✔️ Challenges: High costs and interest rates make it tough for first-time buyers ✔️ Solutions: Calls for long-term government housing plans, better education on mortgage options, and leveraging AI and Open Banking to improve the mortgage process ✔️ Innovations: Examples include Skipton BS’s 100% LTV mortgage and Leeds BS’s partnerships for affordable housing. Get the lowdown on the full discussion here 🔗https://lnkd.in/d6NSif2Y #FirstTimeBuyers #MortgageTech #HousingCrisis #BSAConference
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Your residential market insights this December include: · Stress grows on consumer finance: How much has credit card debt grown? · Mortgage rates decline: Will the dip spur more purchase applications? · Exclusive Insight: Which metros in the U.S. are growing / shrinking? What are other key developments driving the residential real estate industry this month? Download the December issue of THE RECAP to find out: https://lnkd.in/eNteKS7E #residentialrealestate #RRE #mortgagelending #mortgageinvesting #refinance #multifamily
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✨ News Update ✨ . What are IPCs and why did I care when the Real Estate Fee story broke on 3/15! . The flip answer when panic set in if Real Estate Fees were not included in the seller paid fees was just ask for a concession, no big deal. . There are limits in the mortgage world regarding "interested party concessions". . Fannie and Freddie have clarified that the Real Estate Fees are not included in the limitations for IPC's of a real estate transaction. . Next up needs to be VA Loans and legislation before we hit the July chages. . #michelehudnall #RealEstateOfNVA #northernvirginiarealestate #mortgagetips #FannieMae #FreddieMac #ipclimits #homebuying #homeselling #realestateinvesting #FindingHomeInNVA
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🚀 Thanet First-Time Buyers: A Cost Analysis Over 35 Years 🚀 Did you know that first-time buyers in Thanet are now spending 36.7% less of their income on mortgages compared to 1989? Discover the key factors behind this shift, including lower interest rates and increased real incomes. Read the full article here: https://bit.ly/3SwaW9R 🏡💼 #Thanet #FirstTimeBuyers #UKPropertyMarket #RealEstate #MortgageRates
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Interesting research by PEXA highlights the significant amount ($129.6 billion) of real residential estate transactions that last year were cash transactions, i.e., without requiring a mortgage. Apparently, more than one out of four properties sold across NSW, Victoria and Queensland last year were paid for without a mortgage. Whilst a large proportion of the transactions undoubtedly involved legitimate funds, the sheer size and number of cash transactions means the use of illicit funds can hide in plain sight and without the Tranche 2 reforms, and no one, NO ONE, is looking. #TrancheTooSlow
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As predicted in last month’s BetterBond Property Brief, those with home loans have been offered some reprieve in the form of the first interest rate cut since 2020. Although the decline in the prime overdraft rate was only 25 basis points, there is hope for lower inflation in the coming months which could lead to a further cut of 50 basis points in November. Interest rate cuts mean significant aggregate savings for households and businesses and lead to higher levels of affordability for prospective homebuyers, which the residential property market has anxiously been waiting for. The consumer price index (CPI) is slated to continue its declining trend, which means that interest rate cuts in November and into 2025 are virtually guaranteed – incredible news for the economy and the real estate sector! Get all the details here: https://bit.ly/48AzmFX #InterestRates #PropertyMarket #RealEstateTrends
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