If you were to buy a house locally at the current median price of $429,500 and had 10% deposit, then you would need a mortgage for $386,550. This is an average sized mortgage compared to state.
Australia’s total population growth over the last five years has been 2983.00 This means that HILLCREST, 5086’s growth of 431 people is considerably above the mean for the country as a whole.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in HILLCREST, 5086 rank at number 87th in State or 1319th nationally when listed in order of median monthly mortgage payment.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in HILLCREST, 5086 should have seen some difference. While the latest census median annual household figure income is now $51,844, it was $40,008 back in 2006, which is a net increase of $11,835 Subtract from that the median mortgage repayment increase of $7,800 and a mortgage broker’s clients could be up to $4,035 better off each year even without factoring in mortgage rate cuts.