WERRIBEE is one of the less expensive suburbs in VIC. Median home prices are $375,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $337,500 home loan.
Across the whole country WERRIBEE,3030 is number 7th fastest growing suburb by population growth, and 4th in State. Its population grew by 1096 people over the last five years.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,500 which is $377 more every month. As a percentage rise, this makes WERRIBEE, 3030 the number 3916th 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 WERRIBEE, 3030 should have seen some difference. While the latest census median annual household figure income is now $58,448, it was $52,176 back in 2006, which is a net increase of $6,271 Subtract from that the median mortgage repayment increase of $4,524 and a mortgage broker’s clients could be up to $1,747 better off each year even without factoring in mortgage rate cuts.