LAUNCESTON is one of the more expensive suburbs in TAS. Median home prices are $365,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $328,500 home loan.
LAUNCESTON, 7250 is number 2142th in a list of the country’s fastest growing suburbs, and number 48th in State. It has had an average population growth of -0.80 over the period between the last two national censuses.
LAUNCESTON 7250 homeowners are paying around 44.54% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay more than the median average increase of TAS which is 49.53%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in LAUNCESTON, 7250 should have seen some difference. While the latest census median annual household figure income is now $52,364, it was $46,831 back in 2006, which is a net increase of $5,532 Subtract from that the median mortgage repayment increase of $5,928 and a mortgage broker’s clients could be up to $-395 better off each year even without factoring in mortgage rate cuts.