No matter where in SA you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in GLENELG , 5045 is $917,500 this month which means that a mortgage for 80% of that value would be $734,000.
The average suburb population growth in SA has been 2052.85% since 2006, so the 3347.00% population change in GLENELG 5045 is well above average.
GLENELG, 5045 has seen a substantial 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 $1,335 to $2,080.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in GLENELG, 5045 should have seen some difference. While the latest census median annual household figure income is now $64,532, it was $51,194 back in 2006, which is a net increase of $13,338 Subtract from that the median mortgage repayment increase of $8,940 and a mortgage broker’s clients could be up to $4,398 better off each year even without factoring in mortgage rate cuts.