If you’re looking to buy in SOUTH MELBOURNE then you’re going to need a mortgage broker who can get you a good home loan. Median house prices have increased considerably to $1,395,000 over the last year.
Australia’s total population growth over the last five years has been 9217.00 This means that SOUTH MELBOURNE, 3205’s growth of 527 people is well above the mean for the country as a whole.
In VIC the median mortgage repayment has increased from $1,111 to $1,477 which is $-1,023 less than the median monthly home loan repayment in SOUTH MELBOURNE, VIC.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in SOUTH MELBOURNE, 3205 should have seen some difference. While the latest census median annual household figure income is now $86,736, it was $60,595 back in 2006, which is a net increase of $26,140 Subtract from that the median mortgage repayment increase of $6,084 and a mortgage broker’s clients could be up to $20,056 better off each year even without factoring in mortgage rate cuts.