Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in FRANKSTON SOUTH, 3199 is already $772,500, which makes it the number 211th in VIC on a list ordered by most expensive. Make sure that you get good FRANKSTON SOUTH mortgage broker to look for the best deal.
The average suburb population growth in VIC has been 4149.07% since 2006, so the 17512.00% population change in FRANKSTON SOUTH 3199 is well above average.
FRANKSTON SOUTH, 3199 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 $1,375 to $1,800.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in FRANKSTON SOUTH, 3199 should have seen some difference. While the latest census median annual household figure income is now $71,344, it was $58,775 back in 2006, which is a net increase of $12,568 Subtract from that the median mortgage repayment increase of $5,100 and a mortgage broker’s clients could be up to $7,468 better off each year even without factoring in mortgage rate cuts.