If you were to buy a house locally at the current median price of $520,000 and had 10% deposit, then you would need a mortgage for $468,000. This is quite a large mortgage compared to state.
Between 2005 and 2011 the population of PADBURY, 6025 grew an average of 50.80 people each year. This figure of 1653.20% per annum means PADBURY is one of the fastest growing suburbs in WA.
PADBURY, 6025 has seen a large increase in the amount of mortgage repayment the median home owner makes every month. Between 2006 and 2011 mortgage brokers have seen the median housing loan repayment increase from $1,118 to $1,907.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in PADBURY, 6025 should have seen some difference. While the latest census median annual household figure income is now $82,316, it was $58,905 back in 2006, which is a net increase of $23,410 Subtract from that the median mortgage repayment increase of $9,468 and a mortgage broker’s clients could be up to $13,942 better off each year even without factoring in mortgage rate cuts.