If you were to buy a house locally at the current median price of $295,000 and had 10% deposit, then you would need a mortgage for $265,500. This is small than average mortgage compared to state.
ANDERGROVE, 4740 is number 546th in a list of the country’s fastest growing suburbs, and number 114th in State. It has had an average population growth of 33.80 over the period between the last two national censuses.
ANDERGROVE 4740 homeowners are paying around 54.69% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay more than the median average increase of QLD which is 48.06%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in ANDERGROVE, 4740 should have seen some difference. While the latest census median annual household figure income is now $84,604, it was $65,228 back in 2006, which is a net increase of $19,375 Subtract from that the median mortgage repayment increase of $8,532 and a mortgage broker’s clients could be up to $10,843 better off each year even without factoring in mortgage rate cuts.