If you were to buy a house locally at the current median price of $289,500 and had 10% deposit, then you would need a mortgage for $260,550. This is small than average mortgage compared to state.
SALISBURY, 5108 is number 772th in a list of the country’s fastest growing suburbs, and number 30th in State. It has had an average population growth of 140.80 over the period between the last two national censuses.
SALISBURY 5108 homeowners are paying around 38.41% 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 SA which is 43.56%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in SALISBURY, 5108 should have seen some difference. While the latest census median annual household figure income is now $39,416, it was $32,983 back in 2006, which is a net increase of $6,432 Subtract from that the median mortgage repayment increase of $3,996 and a mortgage broker’s clients could be up to $2,436 better off each year even without factoring in mortgage rate cuts.