If you were to buy a house locally at the current median price of $887,500 and had 10% deposit, then you would need a mortgage for $798,750. This is a very large mortgage compared to state.
COLLINGWOOD 3066 has seen a high level of growth in it’s population over the last five years.
Mortgage payments in COLLINGWOOD , 3066 have increased by $467 over the 5-year census period.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in COLLINGWOOD, 3066 should have seen some difference. While the latest census median annual household figure income is now $66,456, it was $46,108 back in 2006, which is a net increase of $20,347 Subtract from that the median mortgage repayment increase of $5,604 and a mortgage broker’s clients could be up to $14,743 better off each year even without factoring in mortgage rate cuts.