BALWYN is one of the most expensive suburbs in VIC. Median home prices are $2,300,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $2,070,000 home loan.
Across the whole country BALWYN,3103 is number 283th fastest growing suburb by population growth, and 121th in State. Its population grew by -2369 people over the last five years.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,174 which is $374 more every month. As a percentage rise, this makes BALWYN, 3103 the number 841th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BALWYN, 3103 should have seen some difference. While the latest census median annual household figure income is now $78,676, it was $68,681 back in 2006, which is a net increase of $9,994 Subtract from that the median mortgage repayment increase of $4,488 and a mortgage broker’s clients could be up to $5,506 better off each year even without factoring in mortgage rate cuts.