If you were to buy a house locally at the current median price of $490,000 and had 10% deposit, then you would need a mortgage for $441,000. This is an average sized mortgage compared to state.
BRACKEN RIDGE, 4017 is number 146th in a list of the country’s fastest growing suburbs, and number 16th in State. It has had an average population growth of 288.60 over the period between the last two national censuses.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,950 which is $650 more every month. As a percentage rise, this makes BRACKEN RIDGE, 4017 the number 1843th 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 BRACKEN RIDGE, 4017 should have seen some difference. While the latest census median annual household figure income is now $78,572, it was $63,622 back in 2006, which is a net increase of $14,950 Subtract from that the median mortgage repayment increase of $7,800 and a mortgage broker’s clients could be up to $7,150 better off each year even without factoring in mortgage rate cuts.