If you were to buy a house locally at the current median price of $253,000 and had 10% deposit, then you would need a mortgage for $227,700. This is relatively small mortgage compared to state.
YOUNG 2594 has seen steady growth in it’s population over the last five years.
YOUNG, 2594 has seen a low 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 $975 to $1,300.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in YOUNG, 2594 should have seen some difference. While the latest census median annual household figure income is now $42,276, it was $36,426 back in 2006, which is a net increase of $5,850 Subtract from that the median mortgage repayment increase of $3,900 and a mortgage broker’s clients could be up to $1,950 better off each year even without factoring in mortgage rate cuts.