If you were to buy a house locally at the current median price of $599,999 and had 10% deposit, then you would need a mortgage for $539,999. This is quite a large mortgage compared to state.
Between 2005 and 2011 the population of TECOMA, 3160 grew an average of -20.60 people each year. This figure of 397.40% per annum means TECOMA is one of the more rapidly growing suburbs in VIC.
TECOMA, 3160 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 $1,200 to $1,560.
The local median household income has increased by $260 which is a theoretical $18,720 available for a TECOMA mortgage broker to find a home loan.