Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in YARRAVILLE, 3013 is already $865,000, which makes it the number 137th in VIC on a list ordered by most expensive. Make sure that you get good YARRAVILLE mortgage broker to look for the best deal.
Between 2005 and 2011 the population of YARRAVILLE, 3013 grew an average of 204.20 people each year. This figure of 2729.40% per annum means YARRAVILLE is one of the fastest growing suburbs in VIC.
YARRAVILLE 3013 homeowners are paying around 37.50% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay about the same as 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 YARRAVILLE, 3013 should have seen some difference. While the latest census median annual household figure income is now $82,316, it was $58,344 back in 2006, which is a net increase of $23,972 Subtract from that the median mortgage repayment increase of $7,200 and a mortgage broker’s clients could be up to $16,772 better off each year even without factoring in mortgage rate cuts.