Which suburb you live in obviously impacts how much your next mortgage is. If we assume that the median house price is directly linked to the size of mortgages in a suburb, then BURWOOD is number 407th on a national scale of largest to smallest mortgages. Make sure that you get a good mortgage broker who can service BURWOOD, 3125.
BURWOOD, 3125 is number 269th in a list of the country’s fastest growing suburbs, and number 116th in State. It has had an average population growth of 255.20 over the period between the last two national censuses.
BURWOOD, 3125 has seen a large increase in the amount of mortgage repayment the median home owner makes every month. Between 2006 and 2011 mortgage brokers have seen the median housing loan repayment increase from $1,500 to $2,000.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BURWOOD, 3125 should have seen some difference. While the latest census median annual household figure income is now $57,148, it was $52,400 back in 2006, which is a net increase of $4,747 Subtract from that the median mortgage repayment increase of $6,000 and a mortgage broker’s clients could be up to $-1,252 better off each year even without factoring in mortgage rate cuts.