No matter where in SA 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 TEA TREE GULLY , 5091 is $415,500 this month which means that a mortgage for 80% of that value would be $332,400.
Between 2005 and 2011 the population of TEA TREE GULLY, 5091 grew an average of 14.60 people each year. This figure of 604.80% per annum means TEA TREE GULLY is one of the more rapidly growing suburbs in SA.
TEA TREE GULLY, 5091 has seen a average 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 $1,083 to $1,500.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in TEA TREE GULLY, 5091 should have seen some difference. While the latest census median annual household figure income is now $64,220, it was $55,952 back in 2006, which is a net increase of $8,268 Subtract from that the median mortgage repayment increase of $5,004 and a mortgage broker’s clients could be up to $3,264 better off each year even without factoring in mortgage rate cuts.