If you were to buy a house locally at the current median price of $582,800 and had 10% deposit, then you would need a mortgage for $524,520. This is an average sized mortgage compared to state.
VIC has seen an average of 4149.07% rowth over the last 5 years. This means that with well above the state figure, KEILOR DOWNS, 3038 figure of -659 represents a 10206.00% change.
KEILOR DOWNS 3038 homeowners are paying around 26.42% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay less than the median average increase of VIC which is 35.71%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in KEILOR DOWNS, 3038 should have seen some difference. While the latest census median annual household figure income is now $65,416, it was $58,411 back in 2006, which is a net increase of $7,004 Subtract from that the median mortgage repayment increase of $3,804 and a mortgage broker’s clients could be up to $3,200 better off each year even without factoring in mortgage rate cuts.