If you were to buy a house locally at the current median price of $816,000 and had 10% deposit, then you would need a mortgage for $734,400. This is a very large mortgage compared to state.
SA has seen an average of 2052.85% rowth over the last 5 years. This means that with above the state figure, BURNSIDE, 5066 figure of 81 represents a 2571.00% change.
With a median housing loan repayment of $2,167 a month, BURNSIDE , 5066 mortgage brokers are seeing mortgage holders paying $650 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 BURNSIDE, 5066 should have seen some difference. While the latest census median annual household figure income is now $81,484, it was $67,574 back in 2006, which is a net increase of $13,910 Subtract from that the median mortgage repayment increase of $7,800 and a mortgage broker’s clients could be up to $6,110 better off each year even without factoring in mortgage rate cuts.