If you were to buy a house locally at the current median price of $750,000 and had 10% deposit, then you would need a mortgage for $675,000. This is a very large mortgage compared to state.
BUDDINA, 4575 is number 1770th in a list of the country’s fastest growing suburbs, and number 420th in State. It has had an average population growth of -8.60 over the period between the last two national censuses.
BUDDINA 4575 homeowners are paying around 40.70% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay about the same as the median average increase of QLD which is 48.06%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BUDDINA, 4575 should have seen some difference. While the latest census median annual household figure income is now $55,796, it was $46,342 back in 2006, which is a net increase of $9,453 Subtract from that the median mortgage repayment increase of $6,942 and a mortgage broker’s clients could be up to $2,511 better off each year even without factoring in mortgage rate cuts.