If you were to buy a house locally at the current median price of $815,000 and had 10% deposit, then you would need a mortgage for $733,500. This is quite a large mortgage compared to state.
Australia’s total population growth over the last five years has been 4242.00 This means that GLEN ALPINE, 2560’s growth of -60 people is considerably above the mean for the country as a whole.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in GLEN ALPINE, 2560 rank at number 1220th in State or 4587th nationally when listed in order of median monthly mortgage payment.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in GLEN ALPINE, 2560 should have seen some difference. While the latest census median annual household figure income is now $123,032, it was $102,196 back in 2006, which is a net increase of $20,836 Subtract from that the median mortgage repayment increase of $3,900 and a mortgage broker’s clients could be up to $16,936 better off each year even without factoring in mortgage rate cuts.