No matter where in VIC you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in CHELTENHAM , 3192 is $895,000 this month which means that a mortgage for 80% of that value would be $716,000.
CHELTENHAM, 3192 is number 96th in a list of the country’s fastest growing suburbs, and number 52th in State. It has had an average population growth of 154.00 over the period between the last two national censuses.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in CHELTENHAM, 3192 rank at number 215th in State or 2163th 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 CHELTENHAM, 3192 should have seen some difference. While the latest census median annual household figure income is now $64,168, it was $54,100 back in 2006, which is a net increase of $10,067 Subtract from that the median mortgage repayment increase of $6,600 and a mortgage broker’s clients could be up to $3,467 better off each year even without factoring in mortgage rate cuts.