BYFORD is one of the less expensive suburbs in WA. Median home prices are $395,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $355,500 home loan.
With a net change of 3697 people, BYFORD 6122 has grown considerably when compared to other suburbs in WA.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,167 which is $897 more every month. As a percentage rise, this makes BYFORD, 6122 the number 846th 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 BYFORD, 6122 should have seen some difference. While the latest census median annual household figure income is now $87,308, it was $62,212 back in 2006, which is a net increase of $25,095 Subtract from that the median mortgage repayment increase of $10,770 and a mortgage broker’s clients could be up to $14,325 better off each year even without factoring in mortgage rate cuts.