Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in MAFFRA, 3860 is already $259,000, which makes it the number 614th in VIC on a list ordered by most expensive. Make sure that you get good MAFFRA mortgage broker to look for the best deal.
Between 2005 and 2011 the population of MAFFRA, 3860 grew an average of -44.20 people each year. This figure of 1002.60% per annum means MAFFRA is one of the more rapidly growing suburbs in VIC.
MAFFRA, 3860 has seen a low increase in the amount of mortgage repayment the median home owner makes every month. Between 2006 and 2011 mortgage brokers have seen the median housing loan repayment increase from $867 to $1,200.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in MAFFRA, 3860 should have seen some difference. While the latest census median annual household figure income is now $46,228, it was $40,196 back in 2006, which is a net increase of $6,032 Subtract from that the median mortgage repayment increase of $3,996 and a mortgage broker’s clients could be up to $2,036 better off each year even without factoring in mortgage rate cuts.