If you were to buy a house locally at the current median price of $970,500 and had 10% deposit, then you would need a mortgage for $873,450. This is a very large mortgage compared to state.
Australia’s total population growth over the last five years has been 10041.00 This means that BURWOOD EAST, 3151’s growth of 130 people is well above the mean for the country as a whole.
In VIC the median mortgage repayment has increased from $1,111 to $1,477 which is $-345 less than the median monthly home loan repayment in BURWOOD EAST, VIC.
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.