If you were to buy a house locally at the current median price of $700,000 and had 10% deposit, then you would need a mortgage for $630,000. This is quite a large mortgage compared to state.
Australia’s total population growth over the last five years has been 4600.00 This means that GEELONG, 3220’s growth of 345 people is considerably above the mean for the country as a whole.
Mortgage payments in GEELONG , 3220 have increased by $398 over the 5-year census period.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in GEELONG, 3220 should have seen some difference. While the latest census median annual household figure income is now $63,232, it was $52,702 back in 2006, which is a net increase of $10,530 Subtract from that the median mortgage repayment increase of $4,776 and a mortgage broker’s clients could be up to $5,754 better off each year even without factoring in mortgage rate cuts.