Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in GLENELG, 5045 is already $832,500, which makes it the number 42th in SA on a list ordered by most expensive. Make sure that you get good GLENELG mortgage broker to look for the best deal.
Australia’s total population growth over the last five years has been 3347.00 This means that GLENELG, 5045’s growth of 321 people is considerably above the mean for the country as a whole.
GLENELG 5045 homeowners are paying around 55.81% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay more than the median average increase of SA which is 43.56%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in GLENELG, 5045 should have seen some difference. While the latest census median annual household figure income is now $64,532, it was $51,194 back in 2006, which is a net increase of $13,338 Subtract from that the median mortgage repayment increase of $8,940 and a mortgage broker’s clients could be up to $4,398 better off each year even without factoring in mortgage rate cuts.