BLACKBURN NORTH is one of the most expensive suburbs in VIC. Median home prices are $1,011,250 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $910,125 home loan.
BLACKBURN NORTH, 3130 is number 850th in a list of the country’s fastest growing suburbs, and number 249th in State. It has had an average population growth of 42.20 over the period between the last two national censuses.
Mortgage brokers in BLACKBURN NORTH, 3130 have seen that the median mortgage loan repayment has increased somewhat between the last two census periods, changing from $1,430 to $1,842.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BLACKBURN NORTH, 3130 should have seen some difference. While the latest census median annual household figure income is now $68,380, it was $55,104 back in 2006, which is a net increase of $13,275 Subtract from that the median mortgage repayment increase of $4,944 and a mortgage broker’s clients could be up to $8,331 better off each year even without factoring in mortgage rate cuts.