If you were to buy a house locally at the current median price of $1,750,000 and had 10% deposit, then you would need a mortgage for $1,575,000. This is a very large mortgage compared to state.
With a net change of 646 people, BRIGHTON EAST 3187 has grown considerably when compared to other suburbs in VIC.
With a median housing loan repayment of $2,492 a month, BRIGHTON EAST , 3187 mortgage brokers are seeing mortgage holders paying $492 more than 2006.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BRIGHTON EAST, 3187 should have seen some difference. While the latest census median annual household figure income is now $93,392, it was $74,011 back in 2006, which is a net increase of $19,380 Subtract from that the median mortgage repayment increase of $5,904 and a mortgage broker’s clients could be up to $13,476 better off each year even without factoring in mortgage rate cuts.