HERMIT PARK is one of the less expensive suburbs in QLD. Median home prices are $347,500 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $312,750 home loan.
Australia’s total population growth over the last five years has been 3420.00 This means that HERMIT PARK, 4812’s growth of 74 people is considerably above the mean for the country as a whole.
In QLD the median mortgage repayment has increased from $1,125 to $1,633 which is $6 more than the median monthly home loan repayment in HERMIT PARK, QLD.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in HERMIT PARK, 4812 should have seen some difference. While the latest census median annual household figure income is now $55,120, it was $47,096 back in 2006, which is a net increase of $8,023 Subtract from that the median mortgage repayment increase of $5,220 and a mortgage broker’s clients could be up to $2,803 better off each year even without factoring in mortgage rate cuts.