If you were to buy a house locally at the current median price of $625,000 and had 10% deposit, then you would need a mortgage for $562,500. This is quite a large mortgage compared to state.
The average suburb population growth in QLD has been 2808.22% since 2006, so the 7805.00% population change in COOLUM BEACH 4573 is well above average.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,750 which is $168 more every month. As a percentage rise, this makes COOLUM BEACH, 4573 the number 2590th 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 COOLUM BEACH, 4573 should have seen some difference. While the latest census median annual household figure income is now $53,404, it was $69,300 back in 2006, which is a net increase of $-15,896 Subtract from that the median mortgage repayment increase of $2,016 and a mortgage broker’s clients could be up to $-17,912 better off each year even without factoring in mortgage rate cuts.