CARRUM DOWNS is one of the averagely priced suburbs in VIC. Median home prices are $432,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $388,800 home loan.
Australia’s total population growth over the last five years has been 19022.00 This means that CARRUM DOWNS, 3201’s growth of 1908 people is well above the mean for the country as a whole.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,600 which is $400 more every month. As a percentage rise, this makes CARRUM DOWNS, 3201 the number 3373th 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 CARRUM DOWNS, 3201 should have seen some difference. While the latest census median annual household figure income is now $61,516, it was $52,743 back in 2006, which is a net increase of $8,772 Subtract from that the median mortgage repayment increase of $4,800 and a mortgage broker’s clients could be up to $3,972 better off each year even without factoring in mortgage rate cuts.