If you were to buy a house locally at the current median price of $765,000 and had 10% deposit, then you would need a mortgage for $688,500. This is a very large mortgage compared to state.
GOODWOOD, 5034 is number 2191th in a list of the country’s fastest growing suburbs, and number 191th in State. It has had an average population growth of 16.20 over the period between the last two national censuses.
GOODWOOD 5034 homeowners are paying around 47.23% 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 GOODWOOD, 5034 should have seen some difference. While the latest census median annual household figure income is now $72,592, it was $56,524 back in 2006, which is a net increase of $16,068 Subtract from that the median mortgage repayment increase of $7,410 and a mortgage broker’s clients could be up to $8,658 better off each year even without factoring in mortgage rate cuts.