No matter where in VIC you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in BALLARAT EAST , 3350 is $285,000 this month which means that a mortgage for 80% of that value would be $228,000.
Between 2005 and 2011 the population of BALLARAT EAST, 3350 grew an average of 62.60 people each year. This figure of 1041.60% per annum means BALLARAT EAST is one of the more rapidly growing suburbs in VIC.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in BALLARAT EAST, 3350 rank at number 860th in State or 5091th nationally when listed in order of median monthly mortgage payment.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BALLARAT EAST, 3350 should have seen some difference. While the latest census median annual household figure income is now $43,784, it was $35,188 back in 2006, which is a net increase of $8,595 Subtract from that the median mortgage repayment increase of $3,258 and a mortgage broker’s clients could be up to $5,337 better off each year even without factoring in mortgage rate cuts.