No matter where in SA you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in ELIZABETH , 5112 is $215,000 this month which means that a mortgage for 80% of that value would be $172,000.
ELIZABETH, 5112 is number 3591th in a list of the country’s fastest growing suburbs, and number 398th in State. It has had an average population growth of 17.40 over the period between the last two national censuses.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,127 which is $334 more every month. As a percentage rise, this makes ELIZABETH, 5112 the number 5336th 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 ELIZABETH, 5112 should have seen some difference. While the latest census median annual household figure income is now $34,008, it was $30,248 back in 2006, which is a net increase of $3,759 Subtract from that the median mortgage repayment increase of $4,008 and a mortgage broker’s clients could be up to $-248 better off each year even without factoring in mortgage rate cuts.