If you were to buy a house locally at the current median price of $419,000 and had 10% deposit, then you would need a mortgage for $377,100. This is an average sized mortgage compared to state.
Between 2005 and 2011 the population of BAHRS SCRUB, 4207 grew an average of 72.00 people each year. This figure of 282.20% per annum means BAHRS SCRUB is one of the average growth suburbs in QLD.
BAHRS SCRUB, 4207 has seen a substantial increase in the amount of mortgage repayment the median home owner makes every month. Between 2006 and 2011 mortgage brokers have seen the median housing loan repayment increase from $1,500 to $2,158.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BAHRS SCRUB, 4207 should have seen some difference. While the latest census median annual household figure income is now $86,372, it was $76,793 back in 2006, which is a net increase of $9,578 Subtract from that the median mortgage repayment increase of $7,896 and a mortgage broker’s clients could be up to $1,682 better off each year even without factoring in mortgage rate cuts.