If you were to buy a house locally at the current median price of $510,000 and had 10% deposit, then you would need a mortgage for $459,000. This is an average sized mortgage compared to state.
Australia’s total population growth over the last five years has been 6171.00 This means that TULLAMARINE, 3043’s growth of -269 people is well above the mean for the country as a whole.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in TULLAMARINE, 3043 rank at number 663th in State or 4207th nationally when listed in order of median monthly mortgage payment.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in TULLAMARINE, 3043 should have seen some difference. While the latest census median annual household figure income is now $55,640, it was $48,375 back in 2006, which is a net increase of $7,264 Subtract from that the median mortgage repayment increase of $4,404 and a mortgage broker’s clients could be up to $2,860 better off each year even without factoring in mortgage rate cuts.