SEVEN HILLS is one of the most expensive suburbs in QLD. Median home prices are $742,500 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $668,250 home loan.
Between 2005 and 2011 the population of SEVEN HILLS, 4170 grew an average of 117.80 people each year. This figure of 385.60% per annum means SEVEN HILLS is one of the more rapidly growing suburbs in QLD.
SEVEN HILLS, 4170 has seen a substantial 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 $1,500 to $2,769.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in SEVEN HILLS, 4170 should have seen some difference. While the latest census median annual household figure income is now $96,980, it was $62,956 back in 2006, which is a net increase of $34,023 Subtract from that the median mortgage repayment increase of $15,228 and a mortgage broker’s clients could be up to $18,795 better off each year even without factoring in mortgage rate cuts.