HAMILTON is one of the least expensive suburbs in VIC. Median home prices are $196,500 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $176,850 home loan.
Australia’s total population growth over the last five years has been 10003.00 This means that HAMILTON, 3300’s growth of -511 people is well above the mean for the country as a whole.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,124 which is $279 more every month. As a percentage rise, this makes HAMILTON, 3300 the number 5370th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in HAMILTON, 3300 should have seen some difference. While the latest census median annual household figure income is now $47,008, it was $41,121 back in 2006, which is a net increase of $5,886 Subtract from that the median mortgage repayment increase of $3,348 and a mortgage broker’s clients could be up to $2,538 better off each year even without factoring in mortgage rate cuts.