If you were to buy a house locally at the current median price of $775,000 and had 10% deposit, then you would need a mortgage for $697,500. This is a very large mortgage compared to state.
The average suburb population growth in SA has been 2052.85% since 2006, so the 12861.00% population change in ADELAIDE 5000 is well above average.
Mortgage brokers in ADELAIDE, 5000 have seen that the median mortgage loan repayment has increased somewhat between the last two census periods, changing from $1,486 to $1,842.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in ADELAIDE, 5000 should have seen some difference. While the latest census median annual household figure income is now $49,348, it was $46,446 back in 2006, which is a net increase of $2,901 Subtract from that the median mortgage repayment increase of $4,272 and a mortgage broker’s clients could be up to $-1,370 better off each year even without factoring in mortgage rate cuts.