Which suburb you live in obviously impacts how much your next mortgage is. If we assume that the median house price is directly linked to the size of mortgages in a suburb, then SOMERTON PARK is number 1127th on a national scale of largest to smallest mortgages. Make sure that you get a good mortgage broker who can service SOMERTON PARK, 5044.
Between 2005 and 2011 the population of SOMERTON PARK, 5044 grew an average of -24.20 people each year. This figure of 1057.40% per annum means SOMERTON PARK is one of the fastest growing suburbs in SA.
SOMERTON PARK, 5044 has seen a large 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 $1,300 to $1,950.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in SOMERTON PARK, 5044 should have seen some difference. While the latest census median annual household figure income is now $57,460, it was $46,950 back in 2006, which is a net increase of $10,509 Subtract from that the median mortgage repayment increase of $7,800 and a mortgage broker’s clients could be up to $2,709 better off each year even without factoring in mortgage rate cuts.