If you were to buy a house locally at the current median price of $836,500 and had 10% deposit, then you would need a mortgage for $752,850. This is a very large mortgage compared to state.
KELVIN GROVE 4059 has seen a high level of growth in it’s population over the last five years.
In QLD the median mortgage repayment has increased from $1,125 to $1,633 which is $-490 less than the median monthly home loan repayment in KELVIN GROVE, QLD.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in KELVIN GROVE, 4059 should have seen some difference. While the latest census median annual household figure income is now $70,720, it was $59,092 back in 2006, which is a net increase of $11,627 Subtract from that the median mortgage repayment increase of $6,276 and a mortgage broker’s clients could be up to $5,351 better off each year even without factoring in mortgage rate cuts.