If you were to buy a house locally at the current median price of $543,750 and had 10% deposit, then you would need a mortgage for $489,375. This is quite a large mortgage compared to state.
The average suburb population growth in SA has been 2052.85% since 2006, so the 2340.00% population change in DAW PARK 5041 is above average.
DAW PARK 5041 homeowners are paying around 44.04% 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 SA which is 43.56%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in DAW PARK, 5041 should have seen some difference. While the latest census median annual household figure income is now $53,352, it was $44,340 back in 2006, which is a net increase of $9,011 Subtract from that the median mortgage repayment increase of $5,724 and a mortgage broker’s clients could be up to $3,287 better off each year even without factoring in mortgage rate cuts.