The top Australian suburbs on the east coast where buyers are paying for property in cash
Cash buyers are changing the residential property buying landscape as three in 10 homes sell without a mortgage in 2023
2 min
Almost three in 10 homes purchased on the East Coast last year were bought with cash, contributing to the historically unusual situation of growing home values alongside rising interest rates. The demographics of cash buyers include high income earners buying in blue-ribbon city suburbs, downsizers in all locations, retirees purchasing in seachange and treechange areas and local and overseas investors buying inner city apartments.
Digital property exchange platform PEXA has released its 2023 Cash Purchases Report covering residential property settlements across New South Wales, Victoria and Queensland. The proportion of cash-funded purchases increased by 1.5 percent in 2023 and totalled$129.6 billion. In 2022, cash sales totalled $127.7 billion. Cash buys accounted for 28.5percent of all residential settlements last year, up from 25.6 percent in 2022.
NSW recorded the highest total value of cash purchases at $54.9 billion and 27.7 percent of purchases. QLD cash purchases totalled $39.4 billion and 29.6 percent of purchases, and Victoria cash buys were worth $35.3 billion and represented 25.2 percent.
PEXA’s chief economist Julie Toth said: “Cash-buyers are changing the dynamics of the residential property market and exerting a greater influence on overall property demand. The relatively large size of this group helps to explain the property market’s resilience in 2023, despite rapid rises in interest rates.
“Our research found the demographic profile of cash buyers is different to mortgage buyers – cash buyers tend to be older and more likely to be retired. They tend to have lower household incomes, but they also have fewer dependents and are more likely to be ‘asset-rich’, with accumulated property, savings and superannuation to fund their next purchase. If they have interest-earning savings, then they may even have benefited from rising interest rates,” she said.
The report found regional buyers form the largest cohort of the growing cash-buyer market, followed by inner city buyers. “Regional cash property purchases are likely being driven by retirees and downsizers looking for a ‘tree change’ or ‘sea change’ which has become a popular trend in recent years,” Ms Toth said.
The largest proportion of cash purchases across the East Coast was in regional Queensland, with 33,055 homes bought without a loan. Renowned retirement destinations such as Surfers Paradise, Broadbeach, Hope Island and Port Douglas were among the most popular locations with cash buyers.
“In contrast, the inner-urban cash buyers are likely a combination of affluent owner-occupiers who are relocating, plus domestic and international investors buying rental properties,” Ms Toth said. Melbourne and Sydney are among the postcodes with the highest total value of cash buys, likely reflecting a large proportion of local and overseas investors buying apartments.
Top 10 postcodes by value of cash buys
QLD 4217 Surfers Paradise $1.43 billion
NSW 3000 Melbourne $1.32 billion
QLD 4218 Broadbeach $1.2 billion
NSW 2765 Marsden Park $971.9 million
NSW 2088 Mosman $944.2 million
NSW 2065 St Leonards $789.3 million
QLD 4551 Caloundra $737.5 million
QLD 4212 Hope Island $710.9 million
NSW 2000 Sydney $709.2 million
NSW 2027 Darling Point $703.3 million
Top 10 postcodes by proportion of cash buys
QLD 4421 Tara 86% (median price $82,500)
QLD 4184 Russell Island 76% (median price $85,000)
QLD 4671 Gin Gin 72.3% (median price $275,000)
QLD 4819 Magnetic Island 68.2% (median price $365,001)
QLD 4877 Port Douglas 66.4% (median price $445,000)
QLD 4615 Nanango 65.0% (median price $292,500)
NSW 2422 Gloucester 63.9% (median price $530,000)
QLD 4852 Mission Beach 60.9% (median price $307,500)
QLD 4850 Ingham 60.7% (median price $188,500)
QLD 4660 Childers 59.6% (median price $385,000)
BNW Developments has established a Sydney presence, joining Arada and Sobha Realty among the growing number of UAE developers pursuing Australian buyers and development opportunities.
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رغم التوترات الإقليمية، يواصل سوق العقارات الفاخرة في الإمارات جذب المشاريع الجديدة، مع تصدر الواجهات البحرية المشهد. وتستعد دبي وأبوظبي ورأس الخيمة لإطلاق مجموعة من المشاريع السكنية الفاخرة، بينها مساكن تحمل علامات فندقية عالمية مثل Ritz-Carlton وJanu.
6 min
Long-term optimism remains strong in the United Arab Emirates, even as the war in neighboring Iran hinders home sales and demand for now.
While there have certainly been residential and commercial real estate projects across the U.A.E. that have been paused or delayed due to the turmoil experienced across the region, by and large, new developments continue to be launched.
That’s the case in the luxury residences sector in particular, where a string of starry, big-name projects are putting homes on the market before the close of the year. One trend is that the islands of Dubai, Abu Dhabi and the U.A.E. at large that are taking their turn in the spotlight, as waterfront living continues to be in demand and come at a premium.
For would-be buyers looking for resort-style homes along the shores, there’s an array of upcoming projects to get excited about. Right at the top of the list are hotel branded residences from the likes of Ritz-Carlton and Janu, the sister brand of powerhouse Aman, among five swanky projects selling this season.
The Ritz-Carlton Residences Al Maryah Island, Abu Dhabi
Luxury hotel branded residences are thriving, and the exciting Ritz-Carlton Residences Al Maryah Island development is a great example of why. Residents can expect hotel-style amenities and services from a locale within Abu Dhabi’s thriving waterfront district, with the creature comforts of home built into it.
This project was unveiled at Abu Dhabi Finance Week 2025 and promises to offer The Ritz-Carlton brand’s signature, timeless style and unwavering attention to detail. All units will feature floor-to-ceiling windows with enviable views, while residents will be able to take advantage of a resort-grade, infinity waterfront pool, immersive spa and wellness facilities, and a waterfront promenade with curated outdoor spaces as well as high-end retail and dining venues.
Sales launch in October.
Number of Units: 172
Price Range: Starting at $1.2 million
Developer/Architect: Killa Design and Tara Bernerd, with SAAS Properties.
Home Sizes: One- to four-bedroom residences ranging from 882 square feet to 4,962 square feet, and a five-bedroom, 13,713-square-foot penthouse.
Amenities: Wellness facilities including premium fitness center, massage room, meditation and recovery rooms, cold plunge and indoor pool. There’s also a rooftop pool, co-working lounge, executive golf lounge, and a games room and children play area.
Janu Al Marjan Island, Ras Al Khaimah
Just 50 minutes from Dubai International Airport, Janu Al Marjan Island aims to both feel a world apart from the city, while also offering supreme ease of access. The property has its own private stretch of beach and marina, ideal for superyacht mooring and serving as the scene of a beach club.
The Janu Residences will be positioned next to the Janu hotel, with residents able to take advantage of its many social and wellness spaces, in addition to resident’s-only amenities and services. Meanwhile, the adjacent Wynn Al Marjan Island, the U.A.E.’s first integrated resort, is in direct proximity as well.
Social life by the sea, with discretion and wellness on tap, not to mention a chance to get in early on burgeoning Ras Al Khaimah.
Sales launch in late October.
Number of Units: 73
Price Range: Starting at $2.3 million
Developer/Architect: Jointly developed by Marjan and Wynn Resorts, with architecture by SCDA Architects.
Home Sizes: One- to five-bedroom residences ranging from 2,117 square feet to 18,955 square feet, as well as five Marina Villas and a residential tower penthouse.
Amenities: An active lifestyle comes to the forefront with the Janu Spa and Wellness center and a padel court. Six dining venues and a signature beach club are key features for residents who want it all, right on-site.
Sei Saadiyat, Saadiyat Cultural District, Abu Dhabi
Located in the Saadiyat Cultural District, Sei Saadiyat combines its historic locale with a unique spin rooted in the Japanese concept of stillness and calm, or “Sei.” That foundational principle is what this community will be based on, with a mission to foster wellness and relaxation in all forms, including fitness and social connection.
A total of 778 homes will be spread across six Jacobs-designed buildings. Aldar is also introducing a first in their residential portfolio in the form of their two-bedroom Kanso Lofts at Sei Saadiyat, featuring double-height, open-plan living in loft style spaces including an elevated bedroom.
Phase one sales launched in September.
Number of Units: 778 total (265 involved in this phase one launch)
Price Range: Starting at $800,000
Developer/Architect: Aldar with architecture by Jacobs and interiors by Kettle Collective.
Home Sizes: Residences range from 753 square feet to 2,238 square feet, in a range of floor plans including one- and two-bedroom apartments, three-bedroom Kanso Residences and two-bedroom Kanso lofts.
Amenities: Amenities tie into the brand’s ethos of stillness and calm: expect a Zen garden with serenity pool and outdoor yoga decks, along with numerous indoor and outdoor fitness areas, and hot-and cold-pool experiences.
Amali Canal Residences
Amali Canal Residences is located on Dubai Canal in Al Wasl. The community is suspended above the canal, and brings the presence of water even closer to home with a number of features including private plunge pools in every residence, and a swim-through, indoor-outdoor pool with a signature waterfall facade that would make the posh resorts of the Swiss Alps blush.
There will be no shortage of on-site entertainment and diversions, whether in the form of a private cinema and resident bowling alley, cigar lounge and library, padel and sports courts, a panoramic fitness center. Then there’s The Retreat, a wellness center incorporating spa, sauna, steam, onsen baths, hydrotherapy, and yoga and pilates studios. When it’s time for a bit of work in between the diversions, residents can use an executive boardroom, private studies and co-working lounges.
Sales launch in October.
Number of Units: 211
Price Range: Two bedrooms starting at $3.9 million; three bedrooms starting at $5.4 million; four bedrooms starting at $7.4 million; penthouse pricing on request.
Developer/Architect: Amali Properties in collaboration with AHS Properties, with architecture by Killa Design and interior design by HBA Residential.
Home Sizes: Two- to four-bedroom apartments ranging from 2,880 square feet to 7,800 square feet, in addition to four- and five-bedroom penthouses ranging up to 21,000 square feet.
Amenities: 55,000 square feet of interconnected amenity spaces including myriad lounges, infinity pools with cabanas, children’s waterpark and child care center, padel court and a rooftop secret garden.
Rixos Residences Al Reem Island, Abu Dhabi
The Rixo Residences on Al Reem Island, Abu Dhabi, are designed to match its island environs with the thriving culture and finance dynamics of the city. Panoramic water and skyline views bring both faces to life, in this East & West Properties project.
Residences showcase expansive terraces offering boundless views from within a community centered around three dedicated amenity zones: the Oasis, the Haven and the Gathering. Together, wellness, fitness, social life and relaxation are all available in a number of formats.
Less than half a mile from the coast, and only 10 minutes from downtown Abu Dhabi, Rixos Residences offers generous layouts and amenity-rich public spaces that deliver equally as well for family-friendly living as well as investors.
Sales launched in August.
Number of Units: 386
Price Range: One-bedrooms starting at $570,000, with larger loft units starting at $1.8 million.
Developer/Architect: East & West Property Development under the Ennismore portfolio, with architect Aedas and interiors by HBA Residential.
Home Sizes: One- to two-bedroom apartments as well as three- and four-bedroom lofts, from 954 square feet to 2,941 square feet.
Amenities: Wellness treatment areas as well as Turkish hammam and steam rooms, landscaped walking tracks, padel court, rooftop clubhouse and plunge pool, private cinema, and services including concierge, valet and security.
BNW Developments has established a Sydney presence, joining Arada and Sobha Realty among the growing number of UAE developers pursuing Australian buyers and development opportunities.
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