If you were to buy a house locally at the current median price of $1,252,500 and had 10% deposit, then you would need a mortgage for $1,127,250. This is a very large mortgage compared to state.
Between 2005 and 2011 the population of BALACLAVA, 3183 grew an average of 69.60 people each year. This figure of 1056.40% per annum means BALACLAVA is one of the more rapidly growing suburbs in VIC.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,100 which is $527 more every month. As a percentage rise, this makes BALACLAVA, 3183 the number 1257th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
On a national list of suburbs ranked by median mortgage repayments, BALACLAVA would be 1270th.