BUNDOORA is one of the more expensive suburbs in VIC. Median home prices are $680,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $612,000 home loan.
With a net change of 1690 people, BUNDOORA 3083 has grown considerably when compared to other suburbs in VIC.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,810 which is $445 more every month. As a percentage rise, this makes BUNDOORA, 3083 the number 2370th 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 BUNDOORA, 3083 should have seen some difference. While the latest census median annual household figure income is now $63,700, it was $55,593 back in 2006, which is a net increase of $8,106 Subtract from that the median mortgage repayment increase of $5,340 and a mortgage broker’s clients could be up to $2,766 better off each year even without factoring in mortgage rate cuts.