If you were to buy a house locally at the current median price of $1,050,000 and had 10% deposit, then you would need a mortgage for $945,000. This is a very large mortgage compared to state.
VIC has seen an average of 4149.07% rowth over the last 5 years. This means that with well above the state figure, BENTLEIGH EAST, 3165 figure of 1404 represents a 25824.00% change.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,030 which is $513 more every month. As a percentage rise, this makes BENTLEIGH EAST, 3165 the number 1417th 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 BENTLEIGH EAST, 3165 should have seen some difference. While the latest census median annual household figure income is now $73,112, it was $57,096 back in 2006, which is a net increase of $16,016 Subtract from that the median mortgage repayment increase of $6,156 and a mortgage broker’s clients could be up to $9,860 better off each year even without factoring in mortgage rate cuts.