CLIFTON HILL is one of the most expensive suburbs in VIC. Median home prices are $1,150,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $1,035,000 home loan.
With a net change of 404 people, CLIFTON HILL 3068 has grown when compared to other suburbs in VIC.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,167 which is $407 more every month. As a percentage rise, this makes CLIFTON HILL, 3068 the number 846th 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 CLIFTON HILL, 3068 should have seen some difference. While the latest census median annual household figure income is now $101,712, it was $80,574 back in 2006, which is a net increase of $21,138 Subtract from that the median mortgage repayment increase of $4,884 and a mortgage broker’s clients could be up to $16,254 better off each year even without factoring in mortgage rate cuts.