No matter where in VIC you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in BELMONT , 3216 is $430,000 this month which means that a mortgage for 80% of that value would be $344,000.
BELMONT 3216 has seen a decline in it’s population over the last five years.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,517 which is $434 more every month. As a percentage rise, this makes BELMONT, 3216 the number 3635th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BELMONT, 3216 should have seen some difference. While the latest census median annual household figure income is now $49,764, it was $40,274 back in 2006, which is a net increase of $9,490 Subtract from that the median mortgage repayment increase of $5,208 and a mortgage broker’s clients could be up to $4,282 better off each year even without factoring in mortgage rate cuts.