If you were to buy a house locally at the current median price of $715,000 and had 10% deposit, then you would need a mortgage for $643,500. This is a very large mortgage compared to state.
Between 2005 and 2011 the population of WEST LAKES, 5021 grew an average of -15.60 people each year. This figure of 1125.60% per annum means WEST LAKES is one of the fastest growing suburbs in SA.
Mortgage payments in WEST LAKES , 5021 have increased by $633 over the 5-year census period.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in WEST LAKES, 5021 should have seen some difference. While the latest census median annual household figure income is now $60,528, it was $55,905 back in 2006, which is a net increase of $4,622 Subtract from that the median mortgage repayment increase of $7,596 and a mortgage broker’s clients could be up to $-2,973 better off each year even without factoring in mortgage rate cuts.