BICTON is one of the most expensive suburbs in WA. Median home prices are $890,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $801,000 home loan.
BICTON 6157 has seen steady growth in it’s population over the last five years.
BICTON 6157 homeowners are paying around 48.34% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay more than the median average increase of WA which is 53.23%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BICTON, 6157 should have seen some difference. While the latest census median annual household figure income is now $81,796, it was $56,472 back in 2006, which is a net increase of $25,324 Subtract from that the median mortgage repayment increase of $8,928 and a mortgage broker’s clients could be up to $16,396 better off each year even without factoring in mortgage rate cuts.