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 NORTHCOTE is number 431th on a national scale of largest to smallest mortgages. Make sure that you get a good mortgage broker who can service NORTHCOTE, 3070.
Between 2005 and 2011 the population of NORTHCOTE, 3070 grew an average of 171.80 people each year. This figure of 4563.80% per annum means NORTHCOTE is one of the fastest growing suburbs in VIC.
In VIC the median mortgage repayment has increased from $1,111 to $1,477 which is $-536 less than the median monthly home loan repayment in NORTHCOTE, VIC.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in NORTHCOTE, 3070 should have seen some difference. While the latest census median annual household figure income is now $81,328, it was $58,479 back in 2006, which is a net increase of $22,848 Subtract from that the median mortgage repayment increase of $5,952 and a mortgage broker’s clients could be up to $16,896 better off each year even without factoring in mortgage rate cuts.