Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in MORWELL, 3840 is already $152,440, which makes it the number 692th in VIC on a list ordered by most expensive. Make sure that you get good MORWELL mortgage broker to look for the best deal.
Across the whole country MORWELL,3840 is number 236th fastest growing suburb by population growth, and 104th in State. Its population grew by 238 people over the last five years.
MORWELL 3840 homeowners are paying around 34.33% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay about the same as the median average increase of VIC which is 35.71%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in MORWELL, 3840 should have seen some difference. While the latest census median annual household figure income is now $38,064, it was $31,855 back in 2006, which is a net increase of $6,208 Subtract from that the median mortgage repayment increase of $3,036 and a mortgage broker’s clients could be up to $3,172 better off each year even without factoring in mortgage rate cuts.