If you were to buy a house locally at the current median price of $754,000 and had 10% deposit, then you would need a mortgage for $678,600. This is quite a large mortgage compared to state.
The average suburb population growth in VIC has been 4149.07% since 2006, so the 11524.00% population change in CLAYTON SOUTH 3169 is well above average.
CLAYTON SOUTH, 3169 has seen a average 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 $1,200 to $1,700.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in CLAYTON SOUTH, 3169 should have seen some difference. While the latest census median annual household figure income is now $54,704, it was $42,442 back in 2006, which is a net increase of $12,261 Subtract from that the median mortgage repayment increase of $6,000 and a mortgage broker’s clients could be up to $6,261 better off each year even without factoring in mortgage rate cuts.