RUNAWAY BAY is one of the most expensive suburbs in QLD. Median home prices are $965,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $868,500 home loan.
Across the whole country RUNAWAY BAY,4216 is number 598th fastest growing suburb by population growth, and 128th in State. Its population grew by 462 people over the last five years.
RUNAWAY BAY 4216 homeowners are paying around 33.35% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay about the same as the median average increase of QLD which is 48.06%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in RUNAWAY BAY, 4216 should have seen some difference. While the latest census median annual household figure income is now $55,380, it was $54,615 back in 2006, which is a net increase of $764 Subtract from that the median mortgage repayment increase of $6,504 and a mortgage broker’s clients could be up to $-5,739 better off each year even without factoring in mortgage rate cuts.