Which suburb you live in obviously impacts how much your next mortgage is. If we assume that the median house price is directly linked to the size of mortgages in a suburb, then MURRUMBEENA is number 360th on a national scale of largest to smallest mortgages. Make sure that you get a good mortgage broker who can service MURRUMBEENA, 3163.
Across the whole country MURRUMBEENA,3163 is number 640th fastest growing suburb by population growth, and 206th in State. Its population grew by 360 people over the last five years.
MURRUMBEENA 3163 homeowners are paying around 31.84% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay less than 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 MURRUMBEENA, 3163 should have seen some difference. While the latest census median annual household figure income is now $70,408, it was $56,274 back in 2006, which is a net increase of $14,133 Subtract from that the median mortgage repayment increase of $5,796 and a mortgage broker’s clients could be up to $8,337 better off each year even without factoring in mortgage rate cuts.