If you were to buy a house locally at the current median price of $1,285,000 and had 10% deposit, then you would need a mortgage for $1,156,500. This is quite a large mortgage compared to state.
Australia’s total population growth over the last five years has been 708.00 This means that ELLIS LANE, 2570’s growth of 13 people is about the same as the mean for the country as a whole.
With a median housing loan repayment of $2,650 a month, ELLIS LANE , 2570 mortgage brokers are seeing mortgage holders paying $483 more than 2006.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in ELLIS LANE, 2570 should have seen some difference. While the latest census median annual household figure income is now $99,632, it was $80,251 back in 2006, which is a net increase of $19,380 Subtract from that the median mortgage repayment increase of $5,796 and a mortgage broker’s clients could be up to $13,584 better off each year even without factoring in mortgage rate cuts.