If you were to buy a house locally at the current median price of $875,000 and had 10% deposit, then you would need a mortgage for $787,500. This is a very large mortgage compared to state.
KENSINGTON, 3031 is number 510th in a list of the country’s fastest growing suburbs, and number 177th in State. It has had an average population growth of 208.40 over the period between the last two national censuses.
In VIC the median mortgage repayment has increased from $1,111 to $1,477 which is $-690 less than the median monthly home loan repayment in KENSINGTON, VIC.
In a list of Australian suburbs ranked by what percentage of the median household income was paid out in home loan repayments, KENSINGTON VIC would be 4138th with 29.07.