If you were to buy a house locally at the current median price of $631,000 and had 10% deposit, then you would need a mortgage for $567,900. This is a very large mortgage compared to state.
BUDDINA 4575 has seen a decline in it’s population over the last five years.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,000 which is $578 more every month. As a percentage rise, this makes BUDDINA, 4575 the number 1453th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BUDDINA, 4575 should have seen some difference. While the latest census median annual household figure income is now $55,796, it was $46,342 back in 2006, which is a net increase of $9,453 Subtract from that the median mortgage repayment increase of $6,942 and a mortgage broker’s clients could be up to $2,511 better off each year even without factoring in mortgage rate cuts.