COORPAROO is one of the most expensive suburbs in QLD. Median home prices are $850,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $765,000 home loan.
COORPAROO, 4151 is number 198th in a list of the country’s fastest growing suburbs, and number 32th in State. It has had an average population growth of 229.00 over the period between the last two national censuses.
COORPAROO 4151 homeowners are paying around 43.47% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay more than the median average increase of QLD which is 48.06%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in COORPAROO, 4151 should have seen some difference. While the latest census median annual household figure income is now $79,196, it was $58,037 back in 2006, which is a net increase of $21,158 Subtract from that the median mortgage repayment increase of $7,824 and a mortgage broker’s clients could be up to $13,334 better off each year even without factoring in mortgage rate cuts.