HUGHESDALE is one of the most expensive suburbs in VIC. Median home prices are $1,340,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $1,206,000 home loan.
HUGHESDALE 3166 has seen a high level of growth in it’s population over the last five years.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,000 which is $500 more every month. As a percentage rise, this makes HUGHESDALE, 3166 the number 1453th 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 HUGHESDALE, 3166 should have seen some difference. While the latest census median annual household figure income is now $70,980, it was $57,007 back in 2006, which is a net increase of $13,972 Subtract from that the median mortgage repayment increase of $6,000 and a mortgage broker’s clients could be up to $7,972 better off each year even without factoring in mortgage rate cuts.