If you were to buy a house locally at the current median price of $682,500 and had 10% deposit, then you would need a mortgage for $614,250. This is an average sized mortgage compared to state.
Australia’s total population growth over the last five years has been 3226.00 This means that SHELLHARBOUR, 2529’s growth of 22 people is considerably above the mean for the country as a whole.
Mortgage brokers in SHELLHARBOUR, 2529 have seen that the median mortgage loan repayment has increased somewhat between the last two census periods, changing from $1,534 to $1,800.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in SHELLHARBOUR, 2529 should have seen some difference. While the latest census median annual household figure income is now $62,816, it was $54,886 back in 2006, which is a net increase of $7,930 Subtract from that the median mortgage repayment increase of $3,192 and a mortgage broker’s clients could be up to $4,738 better off each year even without factoring in mortgage rate cuts.