If you were to buy a house locally at the current median price of $1,220,000 and had 10% deposit, then you would need a mortgage for $1,098,000. This is a very large mortgage compared to state.
RICHMOND 3121 has seen a high level of growth in it’s population over the last five years.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,383 which is $583 more every month. As a percentage rise, this makes RICHMOND, 3121 the number 555th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
Weekly gross incomes in RICHMOND, 3121 have increased by $502. In the same period median mortgage loan repayments have increased by $583.