If you were to buy a house locally at the current median price of $950,000 and had 10% deposit, then you would need a mortgage for $855,000. This is a very large mortgage compared to state.
SA has seen an average of 2052.85% rowth over the last 5 years. This means that with above the state figure, GLENELG SOUTH, 5045 figure of 147 represents a 2239.00% change.
Mortgage payments in GLENELG SOUTH , 5045 have increased by $433 over the 5-year census period.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in GLENELG SOUTH, 5045 should have seen some difference. While the latest census median annual household figure income is now $62,140, it was $53,206 back in 2006, which is a net increase of $8,933 Subtract from that the median mortgage repayment increase of $5,196 and a mortgage broker’s clients could be up to $3,737 better off each year even without factoring in mortgage rate cuts.