If you’re looking to buy in HOVE then you’re going to need a mortgage broker who can get you a good home loan. Median house prices have increased to $655,000 over the last year.
Between 2005 and 2011 the population of HOVE, 5048 grew an average of 31.40 people each year. This figure of 567.80% per annum means HOVE is one of the more rapidly growing suburbs in SA.
HOVE 5048 homeowners are paying around 33.33% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay about the same as the median average increase of SA which is 43.56%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in HOVE, 5048 should have seen some difference. While the latest census median annual household figure income is now $52,728, it was $43,466 back in 2006, which is a net increase of $9,261 Subtract from that the median mortgage repayment increase of $4,800 and a mortgage broker’s clients could be up to $4,461 better off each year even without factoring in mortgage rate cuts.