CAULFIELD is one of the most expensive suburbs in VIC. Median home prices are $1,619,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $1,457,100 home loan.
CAULFIELD 3162 has seen steady 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 $-690 less than the median monthly home loan repayment in CAULFIELD, VIC.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in CAULFIELD, 3162 should have seen some difference. While the latest census median annual household figure income is now $73,840, it was $58,988 back in 2006, which is a net increase of $14,851 Subtract from that the median mortgage repayment increase of $4,404 and a mortgage broker’s clients could be up to $10,447 better off each year even without factoring in mortgage rate cuts.