Which suburb you live in obviously impacts how much your next mortgage is. If we assume that the median house price is directly linked to the size of mortgages in a suburb, then ARARAT is number 4105th on a national scale of largest to smallest mortgages. Make sure that you get a good mortgage broker who can service ARARAT, 3377.
With a net change of -141 people, ARARAT 3377 has has shrunk quite a lot when compared to other suburbs in VIC.
ARARAT 3377 homeowners are paying around 28.21% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay less than the median average increase of VIC which is 35.71%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in ARARAT, 3377 should have seen some difference. While the latest census median annual household figure income is now $44,252, it was $35,947 back in 2006, which is a net increase of $8,304 Subtract from that the median mortgage repayment increase of $2,640 and a mortgage broker’s clients could be up to $5,664 better off each year even without factoring in mortgage rate cuts.