MEADOW HEIGHTS is one of the less expensive suburbs in VIC. Median home prices are $358,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $322,200 home loan.
Between 2005 and 2011 the population of MEADOW HEIGHTS, 3048 grew an average of 56.60 people each year. This figure of 2948.40% per annum means MEADOW HEIGHTS is one of the fastest growing suburbs in VIC.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,400 which is $317 more every month. As a percentage rise, this makes MEADOW HEIGHTS, 3048 the number 4287th 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 MEADOW HEIGHTS, 3048 should have seen some difference. While the latest census median annual household figure income is now $45,708, it was $39,540 back in 2006, which is a net increase of $6,167 Subtract from that the median mortgage repayment increase of $3,804 and a mortgage broker’s clients could be up to $2,363 better off each year even without factoring in mortgage rate cuts.