Which suburb you live in obviously impacts how much your next mortgage is. If we assume that the median house price is directly linked to the size of mortgages in a suburb, then BOX HILL is number 306th on a national scale of largest to smallest mortgages. Make sure that you get a good mortgage broker who can service BOX HILL, 3128.
Between 2005 and 2011 the population of BOX HILL, 3128 grew an average of 210.60 people each year. This figure of 1914.20% per annum means BOX HILL is one of the fastest growing suburbs in VIC.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,000 which is $500 more every month. As a percentage rise, this makes BOX HILL, 3128 the number 1453th 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 BOX HILL, 3128 should have seen some difference. While the latest census median annual household figure income is now $53,196, it was $44,590 back in 2006, which is a net increase of $8,606 Subtract from that the median mortgage repayment increase of $6,000 and a mortgage broker’s clients could be up to $2,606 better off each year even without factoring in mortgage rate cuts.