If you were to buy a house locally at the current median price of $1,508,000 and had 10% deposit, then you would need a mortgage for $1,357,200. This is a very large mortgage compared to state.
BLACK ROCK 3193 has seen steady growth in it’s population over the last five years.
In VIC the median mortgage repayment has increased from $1,111 to $1,477 which is $-1,023 less than the median monthly home loan repayment in BLACK ROCK, VIC.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BLACK ROCK, 3193 should have seen some difference. While the latest census median annual household figure income is now $90,584, it was $72,347 back in 2006, which is a net increase of $18,236 Subtract from that the median mortgage repayment increase of $6,000 and a mortgage broker’s clients could be up to $12,236 better off each year even without factoring in mortgage rate cuts.