If you were to buy a house locally at the current median price of $815,000 and had 10% deposit, then you would need a mortgage for $733,500. This is quite a large mortgage compared to state.
ASPENDALE GARDENS, 3195 is number 922th in a list of the country’s fastest growing suburbs, and number 263th in State. It has had an average population growth of 43.00 over the period between the last two national censuses.
ASPENDALE GARDENS 3195 homeowners are paying around 29.26% 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 ASPENDALE GARDENS, 3195 should have seen some difference. While the latest census median annual household figure income is now $84,968, it was $74,666 back in 2006, which is a net increase of $10,301 Subtract from that the median mortgage repayment increase of $4,944 and a mortgage broker’s clients could be up to $5,357 better off each year even without factoring in mortgage rate cuts.