Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in HALLAM, 3803 is already $455,000, which makes it the number 375th in VIC on a list ordered by most expensive. Make sure that you get good HALLAM mortgage broker to look for the best deal.
Across the whole country HALLAM,3803 is number 467th fastest growing suburb by population growth, and 166th in State. Its population grew by 508 people over the last five years.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,573 which is $377 more every month. As a percentage rise, this makes HALLAM, 3803 the number 3506th 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 HALLAM, 3803 should have seen some difference. While the latest census median annual household figure income is now $60,216, it was $53,861 back in 2006, which is a net increase of $6,354 Subtract from that the median mortgage repayment increase of $4,524 and a mortgage broker’s clients could be up to $1,830 better off each year even without factoring in mortgage rate cuts.