If you were to buy a house locally at the current median price of $1,785,000 and had 10% deposit, then you would need a mortgage for $1,606,500. This is a very large mortgage compared to state.
Australia’s total population growth over the last five years has been 5917.00 This means that KEW EAST, 3102’s growth of -123 people is well above the mean for the country as a whole.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in KEW EAST, 3102 rank at number 564th in State or 3795th nationally when listed in order of median monthly mortgage payment.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in KEW EAST, 3102 should have seen some difference. While the latest census median annual household figure income is now $94,172, it was $75,238 back in 2006, which is a net increase of $18,933 Subtract from that the median mortgage repayment increase of $4,920 and a mortgage broker’s clients could be up to $14,013 better off each year even without factoring in mortgage rate cuts.