If you were to buy a house locally at the current median price of $746,500 and had 10% deposit, then you would need a mortgage for $671,850. This is quite a large mortgage compared to state.
Across the whole country KNOXFIELD,3180 is number 833th fastest growing suburb by population growth, and 245th in State. Its population grew by 621 people over the last five years.
KNOXFIELD, 3180 has seen a average increase in the amount of mortgage repayment the median home owner makes every month. Between 2006 and 2011 mortgage brokers have seen the median housing loan repayment increase from $1,200 to $1,700.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in KNOXFIELD, 3180 should have seen some difference. While the latest census median annual household figure income is now $68,224, it was $58,219 back in 2006, which is a net increase of $10,004 Subtract from that the median mortgage repayment increase of $6,000 and a mortgage broker’s clients could be up to $4,004 better off each year even without factoring in mortgage rate cuts.