WOOMBYE is one of the more expensive suburbs in QLD. Median home prices are $499,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $449,100 home loan.
With a net change of 681 people, WOOMBYE 4559 has grown considerably when compared to other suburbs in QLD.
WOOMBYE, 4559 has seen a large increase in the amount of mortgage repayment the median home owner makes every month. Between 2006 and 2011 mortgage brokers have seen the median housing loan repayment increase from $1,300 to $2,000.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in WOOMBYE, 4559 should have seen some difference. While the latest census median annual household figure income is now $56,992, it was $52,104 back in 2006, which is a net increase of $4,888 Subtract from that the median mortgage repayment increase of $8,400 and a mortgage broker’s clients could be up to $-3,512 better off each year even without factoring in mortgage rate cuts.