If you were to buy a house locally at the current median price of $238,500 and had 10% deposit, then you would need a mortgage for $214,650. This is relatively small mortgage compared to state.
Australia’s total population growth over the last five years has been 10056.00 This means that GYMPIE, 4570’s growth of 660 people is well above the mean for the country as a whole.
In QLD the median mortgage repayment has increased from $1,125 to $1,633 which is $333 more than the median monthly home loan repayment in GYMPIE, QLD.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in GYMPIE, 4570 should have seen some difference. While the latest census median annual household figure income is now $38,688, it was $33,451 back in 2006, which is a net increase of $5,236 Subtract from that the median mortgage repayment increase of $5,196 and a mortgage broker’s clients could be up to $40 better off each year even without factoring in mortgage rate cuts.