If you were to buy a house locally at the current median price of $650,000 and had 10% deposit, then you would need a mortgage for $585,000. This is quite a large mortgage compared to state.
Between 2005 and 2011 the population of KINGSBURY, 3083 grew an average of 46.60 people each year. This figure of 652.40% per annum means KINGSBURY is one of the more rapidly growing suburbs in VIC.
With a median housing loan repayment of $1,733 a month, KINGSBURY , 3083 mortgage brokers are seeing mortgage holders paying $537 more than 2006.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in KINGSBURY, 3083 should have seen some difference. While the latest census median annual household figure income is now $46,332, it was $42,036 back in 2006, which is a net increase of $4,295 Subtract from that the median mortgage repayment increase of $6,444 and a mortgage broker’s clients could be up to $-2,148 better off each year even without factoring in mortgage rate cuts.