BUNDOORA is one of the more expensive suburbs in VIC. Median home prices are $626,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $563,400 home loan.
BUNDOORA 3083 has seen a high level of growth in it’s population over the last five years.
In VIC the median mortgage repayment has increased from $1,111 to $1,477 which is $-333 less than the median monthly home loan repayment in BUNDOORA, VIC.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BUNDOORA, 3083 should have seen some difference. While the latest census median annual household figure income is now $63,700, it was $55,593 back in 2006, which is a net increase of $8,106 Subtract from that the median mortgage repayment increase of $5,340 and a mortgage broker’s clients could be up to $2,766 better off each year even without factoring in mortgage rate cuts.