If you were to buy a house locally at the current median price of $330,000 and had 10% deposit, then you would need a mortgage for $297,000. This is small than average mortgage compared to state.
Australia’s total population growth over the last five years has been 5925.00 This means that TORQUAY, 4655’s growth of 331 people is well above the mean for the country as a whole.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,460 which is $430 more every month. As a percentage rise, this makes TORQUAY, 4655 the number 4111th 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 TORQUAY, 4655 should have seen some difference. While the latest census median annual household figure income is now $35,256, it was $31,382 back in 2006, which is a net increase of $3,874 Subtract from that the median mortgage repayment increase of $5,166 and a mortgage broker’s clients could be up to $-1,292 better off each year even without factoring in mortgage rate cuts.