If you were to buy a house locally at the current median price of $549,000 and had 10% deposit, then you would need a mortgage for $494,100. This is quite a large mortgage compared to state.
The average suburb population growth in QLD has been 2808.22% since 2006, so the 11468.00% population change in CARRARA 4211 is well above average.
CARRARA 4211 homeowners are paying around 34.48% 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 CARRARA, 4211 should have seen some difference. While the latest census median annual household figure income is now $62,192, it was $53,934 back in 2006, which is a net increase of $8,257 Subtract from that the median mortgage repayment increase of $6,000 and a mortgage broker’s clients could be up to $2,257 better off each year even without factoring in mortgage rate cuts.