If you were to buy a house locally at the current median price of $914,500 and had 10% deposit, then you would need a mortgage for $823,050. This is a very large mortgage compared to state.
Across the whole country FLEMINGTON,3031 is number 778th fastest growing suburb by population growth, and 234th in State. Its population grew by 151 people over the last five years.
FLEMINGTON 3031 homeowners are paying around 31.84% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay less than the median average increase of VIC which is 35.71%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in FLEMINGTON, 3031 should have seen some difference. While the latest census median annual household figure income is now $53,144, it was $38,495 back in 2006, which is a net increase of $14,648 Subtract from that the median mortgage repayment increase of $5,796 and a mortgage broker’s clients could be up to $8,852 better off each year even without factoring in mortgage rate cuts.