If you were to buy a house locally at the current median price of $608,000 and had 10% deposit, then you would need a mortgage for $547,200. This is quite a large mortgage compared to state.
The average suburb population growth in VIC has been 4149.07% since 2006, so the 20725.00% population change in BORONIA 3155 is well above average.
Mortgage payments in BORONIA , 3155 have increased by $534 over the 5-year census period.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BORONIA, 3155 should have seen some difference. While the latest census median annual household figure income is now $60,424, it was $51,230 back in 2006, which is a net increase of $9,193 Subtract from that the median mortgage repayment increase of $6,408 and a mortgage broker’s clients could be up to $2,785 better off each year even without factoring in mortgage rate cuts.