If you were to buy a house locally at the current median price of $977,500 and had 10% deposit, then you would need a mortgage for $879,750. This is a very large mortgage compared to state.
VIC has seen an average of 4149.07% rowth over the last 5 years. This means that with well above the state figure, BURWOOD EAST, 3151 figure of 130 represents a 10041.00% change.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in BURWOOD EAST, 3151 rank at number 535th in State or 3686th nationally when listed in order of median monthly mortgage payment.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BURWOOD EAST, 3151 should have seen some difference. While the latest census median annual household figure income is now $61,048, it was $54,568 back in 2006, which is a net increase of $6,479 Subtract from that the median mortgage repayment increase of $5,064 and a mortgage broker’s clients could be up to $1,415 better off each year even without factoring in mortgage rate cuts.