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 RINGWOOD , 3134 is $810,000 this month which means that a mortgage for 80% of that value would be $648,000.
RINGWOOD, 3134 is number 169th in a list of the country’s fastest growing suburbs, and number 86th in State. It has had an average population growth of 164.60 over the period between the last two national censuses.
RINGWOOD, 3134 has seen a average 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 $1,220 to $1,733.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in RINGWOOD, 3134 should have seen some difference. While the latest census median annual household figure income is now $58,916, it was $48,718 back in 2006, which is a net increase of $10,197 Subtract from that the median mortgage repayment increase of $6,156 and a mortgage broker’s clients could be up to $4,041 better off each year even without factoring in mortgage rate cuts.