KNOXFIELD is one of the more expensive suburbs in VIC. Median home prices are $716,250 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $644,625 home loan.
Across the whole country KNOXFIELD,3180 is number 833th fastest growing suburb by population growth, and 245th in State. Its population grew by 621 people over the last five years.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in KNOXFIELD, 3180 rank at number 307th in State or 2633th 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 KNOXFIELD, 3180 should have seen some difference. While the latest census median annual household figure income is now $68,224, it was $58,219 back in 2006, which is a net increase of $10,004 Subtract from that the median mortgage repayment increase of $6,000 and a mortgage broker’s clients could be up to $4,004 better off each year even without factoring in mortgage rate cuts.