Queensland is the standout performer among the eastern states, with property sale settlements rising 37% to 203,100 in FY2021. NSW recorded the highest settlement volumes of 218,700, a 26% rise. Held back by lockdowns, Victoria lagged at 199,000 settlements, a 12% rise.
PEXA’s report also analyses borrowing behaviour, suggesting regional buyers are less likely than city buyers to fund their new purchase with a loan. It says: “80% of city settlements are funded with a new loan, compared to only 66% for regional settlements, suggesting metropolitan home-owners are moving to regional areas to take advantage of lower-priced properties, flexible working arrangements and a change in lifestyle.”