If you were to buy a house locally at the current median price of $888,000 and had 10% deposit, then you would need a mortgage for $799,200. This is a very large mortgage compared to state.
UNLEY 5061 has seen steady growth in it’s population over the last five years.
With a median housing loan repayment of $1,950 a month, UNLEY , 5061 mortgage brokers are seeing mortgage holders paying $450 more than 2006.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in UNLEY, 5061 should have seen some difference. While the latest census median annual household figure income is now $71,760, it was $58,162 back in 2006, which is a net increase of $13,598 Subtract from that the median mortgage repayment increase of $5,400 and a mortgage broker’s clients could be up to $8,198 better off each year even without factoring in mortgage rate cuts.