If you were to buy a house locally at the current median price of $612,500 and had 10% deposit, then you would need a mortgage for $551,250. This is an average sized mortgage compared to state.
MULLUMBIMBY, 2482 is number 1991th in a list of the country’s fastest growing suburbs, and number 622th in State. It has had an average population growth of 8.20 over the period between the last two national censuses.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,517 which is $417 more every month. As a percentage rise, this makes MULLUMBIMBY, 2482 the number 3635th 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 MULLUMBIMBY, 2482 should have seen some difference. While the latest census median annual household figure income is now $40,768, it was $32,905 back in 2006, which is a net increase of $7,862 Subtract from that the median mortgage repayment increase of $5,004 and a mortgage broker’s clients could be up to $2,858 better off each year even without factoring in mortgage rate cuts.