If you were to buy a house locally at the current median price of $467,000 and had 10% deposit, then you would need a mortgage for $420,300. This is an average sized mortgage compared to state.
REDLYNCH 4870 has seen a high level of growth in it’s population over the last five years.
In QLD the median mortgage repayment has increased from $1,125 to $1,633 which is $-367 less than the median monthly home loan repayment in REDLYNCH, QLD.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in REDLYNCH, 4870 should have seen some difference. While the latest census median annual household figure income is now $90,220, it was $72,269 back in 2006, which is a net increase of $17,950 Subtract from that the median mortgage repayment increase of $6,060 and a mortgage broker’s clients could be up to $11,890 better off each year even without factoring in mortgage rate cuts.