If you were to buy a house locally at the current median price of $590,000 and had 10% deposit, then you would need a mortgage for $531,000. This is quite a large mortgage compared to state.
With a net change of 1331 people, RIVERVALE 6103 has grown considerably when compared to other suburbs in WA.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,080 which is $780 more every month. As a percentage rise, this makes RIVERVALE, 6103 the number 1325th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in RIVERVALE, 6103 should have seen some difference. While the latest census median annual household figure income is now $67,184, it was $40,596 back in 2006, which is a net increase of $26,587 Subtract from that the median mortgage repayment increase of $9,360 and a mortgage broker’s clients could be up to $17,227 better off each year even without factoring in mortgage rate cuts.