If you were to buy a house locally at the current median price of $1,651,000 and had 10% deposit, then you would need a mortgage for $1,485,900. This is a very large mortgage compared to state.
The average suburb population growth in VIC has been 4149.07% since 2006, so the 3661.00% population change in IVANHOE EAST 3079 is above average.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,500 which is $689 more every month. As a percentage rise, this makes IVANHOE EAST, 3079 the number 363th 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 IVANHOE EAST, 3079 should have seen some difference. While the latest census median annual household figure income is now $108,992, it was $87,708 back in 2006, which is a net increase of $21,283 Subtract from that the median mortgage repayment increase of $8,268 and a mortgage broker’s clients could be up to $13,015 better off each year even without factoring in mortgage rate cuts.