No matter where in VIC you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in NEWPORT , 3015 is $923,000 this month which means that a mortgage for 80% of that value would be $738,400.
The average suburb population growth in VIC has been 4149.07% since 2006, so the 11887.00% population change in NEWPORT 3015 is well above average.
NEWPORT 3015 homeowners are paying around 42.85% 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 NEWPORT, 3015 should have seen some difference. While the latest census median annual household figure income is now $89,388, it was $60,356 back in 2006, which is a net increase of $29,031 Subtract from that the median mortgage repayment increase of $7,800 and a mortgage broker’s clients could be up to $21,231 better off each year even without factoring in mortgage rate cuts.