Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in MODBURY NORTH, 5092 is already $350,000, which makes it the number 318th in SA on a list ordered by most expensive. Make sure that you get good MODBURY NORTH mortgage broker to look for the best deal.
MODBURY NORTH, 5092 is number 1167th in a list of the country’s fastest growing suburbs, and number 56th in State. It has had an average population growth of -2.80 over the period between the last two national censuses.
MODBURY NORTH 5092 homeowners are paying around 47.74% 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 SA which is 43.56%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in MODBURY NORTH, 5092 should have seen some difference. While the latest census median annual household figure income is now $63,752, it was $56,732 back in 2006, which is a net increase of $7,020 Subtract from that the median mortgage repayment increase of $5,712 and a mortgage broker’s clients could be up to $1,308 better off each year even without factoring in mortgage rate cuts.