If you were to buy a house locally at the current median price of $866,000 and had 10% deposit, then you would need a mortgage for $779,400. This is a very large mortgage compared to state.
Australia’s total population growth over the last five years has been 1345.00 This means that HIGHGATE, 5063’s growth of 47 people is about the same as the mean for the country as a whole.
In SA the median mortgage repayment has increased from $994 to $1,395 which is $-605 less than the median monthly home loan repayment in HIGHGATE, SA.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in HIGHGATE, 5063 should have seen some difference. While the latest census median annual household figure income is now $78,988, it was $66,097 back in 2006, which is a net increase of $12,890 Subtract from that the median mortgage repayment increase of $6,960 and a mortgage broker’s clients could be up to $5,930 better off each year even without factoring in mortgage rate cuts.