If you were to buy a house locally at the current median price of $237,000 and had 10% deposit, then you would need a mortgage for $213,300. This is relatively small mortgage compared to state.
Across the whole country ELIZABETH,5112 is number 3591th fastest growing suburb by population growth, and 398th in State. Its population grew by 87 people over the last five years.
ELIZABETH 5112 homeowners are paying around 42.12% 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 SA which is 43.56%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in ELIZABETH, 5112 should have seen some difference. While the latest census median annual household figure income is now $34,008, it was $30,248 back in 2006, which is a net increase of $3,759 Subtract from that the median mortgage repayment increase of $4,008 and a mortgage broker’s clients could be up to $-248 better off each year even without factoring in mortgage rate cuts.