If you were to buy a house locally at the current median price of $1,290,000 and had 10% deposit, then you would need a mortgage for $1,161,000. This is a very large mortgage compared to state.
BOX HILL SOUTH 3128 has seen steady growth in it’s population over the last five years.
BOX HILL SOUTH, 3128 has seen a substantial increase in the amount of mortgage repayment the median home owner makes every month. Between 2006 and 2011 mortgage brokers have seen the median housing loan repayment increase from $1,500 to $2,100.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BOX HILL SOUTH, 3128 should have seen some difference. While the latest census median annual household figure income is now $68,432, it was $57,174 back in 2006, which is a net increase of $11,258 Subtract from that the median mortgage repayment increase of $7,200 and a mortgage broker’s clients could be up to $4,058 better off each year even without factoring in mortgage rate cuts.