No matter where in VIC you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in CAULFIELD SOUTH , 3162 is $1,515,000 this month which means that a mortgage for 80% of that value would be $1,212,000.
VIC has seen an average of 4149.07% rowth over the last 5 years. This means that with well above the state figure, CAULFIELD SOUTH, 3162 figure of 159 represents a 11170.00% change.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,383 which is $650 more every month. As a percentage rise, this makes CAULFIELD SOUTH, 3162 the number 555th 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 CAULFIELD SOUTH, 3162 should have seen some difference. While the latest census median annual household figure income is now $85,332, it was $64,495 back in 2006, which is a net increase of $20,836 Subtract from that the median mortgage repayment increase of $7,800 and a mortgage broker’s clients could be up to $13,036 better off each year even without factoring in mortgage rate cuts.