GLEN WAVERLEY is one of the most expensive suburbs in VIC. Median home prices are $1,230,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $1,107,000 home loan.
Between 2005 and 2011 the population of GLEN WAVERLEY, 3150 grew an average of 196.80 people each year. This figure of 7820.80% per annum means GLEN WAVERLEY is one of the fastest growing suburbs in VIC.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,000 which is $500 more every month. As a percentage rise, this makes GLEN WAVERLEY, 3150 the number 1453th 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 GLEN WAVERLEY, 3150 should have seen some difference. While the latest census median annual household figure income is now $70,252, it was $60,886 back in 2006, which is a net increase of $9,365 Subtract from that the median mortgage repayment increase of $6,000 and a mortgage broker’s clients could be up to $3,365 better off each year even without factoring in mortgage rate cuts.