If you were to buy a house locally at the current median price of $567,220 and had 10% deposit, then you would need a mortgage for $510,498. This is quite a large mortgage compared to state.
Australia’s total population growth over the last five years has been 8070.00 This means that CHERMSIDE, 4032’s growth of 1822 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 $2,000 which is $700 more every month. As a percentage rise, this makes CHERMSIDE, 4032 the number 1453th 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 CHERMSIDE, 4032 should have seen some difference. While the latest census median annual household figure income is now $55,380, it was $40,445 back in 2006, which is a net increase of $14,934 Subtract from that the median mortgage repayment increase of $8,400 and a mortgage broker’s clients could be up to $6,534 better off each year even without factoring in mortgage rate cuts.