If you were to buy a house locally at the current median price of $315,000 and had 10% deposit, then you would need a mortgage for $283,500. This is small than average mortgage compared to state.
WODONGA, 3690 is number 155th in a list of the country’s fastest growing suburbs, and number 79th in State. It has had an average population growth of 75.40 over the period between the last two national censuses.
WODONGA 3690 homeowners are paying around 26.15% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay less than the median average increase of VIC which is 35.71%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in WODONGA, 3690 should have seen some difference. While the latest census median annual household figure income is now $48,412, it was $44,278 back in 2006, which is a net increase of $4,134 Subtract from that the median mortgage repayment increase of $3,420 and a mortgage broker’s clients could be up to $714 better off each year even without factoring in mortgage rate cuts.