If you were to buy a house locally at the current median price of $570,000 and had 10% deposit, then you would need a mortgage for $513,000. This is quite a large mortgage compared to state.
Australia’s total population growth over the last five years has been 44679.00 This means that BERWICK, 3806’s growth of 8360 people is well above the mean for the country as a whole.
BERWICK 3806 homeowners are paying around 38.49% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay about the same as 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 BERWICK, 3806 should have seen some difference. While the latest census median annual household figure income is now $81,068, it was $63,549 back in 2006, which is a net increase of $17,518 Subtract from that the median mortgage repayment increase of $6,504 and a mortgage broker’s clients could be up to $11,014 better off each year even without factoring in mortgage rate cuts.