If you were to buy a house locally at the current median price of $1,840,000 and had 10% deposit, then you would need a mortgage for $1,656,000. This is a very large mortgage compared to state.
Between 2005 and 2011 the population of GLEN IRIS, 3146 grew an average of 335.80 people each year. This figure of 4969.60% per annum means GLEN IRIS is one of the fastest growing suburbs in VIC.
GLEN IRIS, 3146 has seen a substantial increase in the amount of mortgage repayment the median home owner makes every month. Between 2006 and 2011 mortgage brokers have seen the median housing loan repayment increase from $1,800 to $2,383.
The local median household income has increased by $392 which is a theoretical $30,316 available for a GLEN IRIS mortgage broker to find a home loan.