If you were to buy a house locally at the current median price of $580,000 and had 10% deposit, then you would need a mortgage for $522,000. This is quite a large mortgage compared to state.
With a net change of 1867 people, BUDERIM 4556 has grown considerably when compared to other suburbs in QLD.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,000 which is $559 more every month. As a percentage rise, this makes BUDERIM, 4556 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 BUDERIM, 4556 should have seen some difference. While the latest census median annual household figure income is now $61,308, it was $54,584 back in 2006, which is a net increase of $6,723 Subtract from that the median mortgage repayment increase of $6,708 and a mortgage broker’s clients could be up to $15 better off each year even without factoring in mortgage rate cuts.