No matter where in VIC you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in SOUTH YARRA , 3141 is $1,600,000 this month which means that a mortgage for 80% of that value would be $1,280,000.
The average suburb population growth in VIC has been 4149.07% since 2006, so the 19034.00% population change in SOUTH YARRA 3141 is well above average.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,300 which is $474 more every month. As a percentage rise, this makes SOUTH YARRA, 3141 the number 639th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in SOUTH YARRA, 3141 should have seen some difference. While the latest census median annual household figure income is now $88,036, it was $63,684 back in 2006, which is a net increase of $24,351 Subtract from that the median mortgage repayment increase of $5,694 and a mortgage broker’s clients could be up to $18,657 better off each year even without factoring in mortgage rate cuts.