FLEMINGTON is one of the most expensive suburbs in VIC. Median home prices are $932,500 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $839,250 home loan.
FLEMINGTON 3031 has seen steady growth in it’s population over the last five years.
FLEMINGTON, 3031 has seen a large 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 $1,517 to $2,000.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in FLEMINGTON, 3031 should have seen some difference. While the latest census median annual household figure income is now $53,144, it was $38,495 back in 2006, which is a net increase of $14,648 Subtract from that the median mortgage repayment increase of $5,796 and a mortgage broker’s clients could be up to $8,852 better off each year even without factoring in mortgage rate cuts.