DREWVALE is one of the more expensive suburbs in QLD. Median home prices are $618,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $556,200 home loan.
The average suburb population growth in QLD has been 2808.22% since 2006, so the 3843.00% population change in DREWVALE 4116 is above average.
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 DREWVALE, 4116 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 DREWVALE, 4116 should have seen some difference. While the latest census median annual household figure income is now $94,484, it was $75,062 back in 2006, which is a net increase of $19,422 Subtract from that the median mortgage repayment increase of $7,800 and a mortgage broker’s clients could be up to $11,622 better off each year even without factoring in mortgage rate cuts.