If you were to buy a house locally at the current median price of $1,165,000 and had 10% deposit, then you would need a mortgage for $1,048,500. This is a very large mortgage compared to state.
Across the whole country BULIMBA,4171 is number 1068th fastest growing suburb by population growth, and 245th in State. Its population grew by 834 people over the last five years.
BULIMBA 4171 homeowners are paying around 34.44% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay about the same as the median average increase of QLD which is 48.06%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BULIMBA, 4171 should have seen some difference. While the latest census median annual household figure income is now $125,320, it was $82,893 back in 2006, which is a net increase of $42,426 Subtract from that the median mortgage repayment increase of $7,992 and a mortgage broker’s clients could be up to $34,434 better off each year even without factoring in mortgage rate cuts.