Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in WESTMEADOWS, 3049 is already $503,000, which makes it the number 345th in VIC on a list ordered by most expensive. Make sure that you get good WESTMEADOWS mortgage broker to look for the best deal.
With a net change of -336 people, WESTMEADOWS 3049 has has shrunk quite a lot when compared to other suburbs in VIC.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,600 which is $422 more every month. As a percentage rise, this makes WESTMEADOWS, 3049 the number 3373th 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 WESTMEADOWS, 3049 should have seen some difference. While the latest census median annual household figure income is now $64,168, it was $54,241 back in 2006, which is a net increase of $9,926 Subtract from that the median mortgage repayment increase of $5,070 and a mortgage broker’s clients could be up to $4,856 better off each year even without factoring in mortgage rate cuts.