If you were to buy a house locally at the current median price of $265,000 and had 10% deposit, then you would need a mortgage for $238,500. This is relatively small mortgage compared to state.
TUMUT 2720 has seen steady growth in it’s population over the last five years.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,408 which is $325 more every month. As a percentage rise, this makes TUMUT, 2720 the number 4236th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
The local median household income has increased by $173 which is a theoretical $16,900 available for a TUMUT mortgage broker to find a home loan.