Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in BRUNSWICK WEST, 3055 is already $995,000, which makes it the number 111th in VIC on a list ordered by most expensive. Make sure that you get good BRUNSWICK WEST mortgage broker to look for the best deal.
Between 2005 and 2011 the population of BRUNSWICK WEST, 3055 grew an average of 190.20 people each year. This figure of 2609.60% per annum means BRUNSWICK WEST is one of the fastest growing suburbs in VIC.
BRUNSWICK WEST 3055 homeowners are paying around 44.44% 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 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 BRUNSWICK WEST, 3055 should have seen some difference. While the latest census median annual household figure income is now $64,116, it was $48,126 back in 2006, which is a net increase of $15,990 Subtract from that the median mortgage repayment increase of $7,200 and a mortgage broker’s clients could be up to $8,790 better off each year even without factoring in mortgage rate cuts.