No matter where in VIC you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in LAKES ENTRANCE , 3909 is $280,000 this month which means that a mortgage for 80% of that value would be $224,000.
The average suburb population growth in VIC has been 4149.07% since 2006, so the 4469.00% population change in LAKES ENTRANCE 3909 is above average.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,300 which is $350 more every month. As a percentage rise, this makes LAKES ENTRANCE, 3909 the number 4574th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in LAKES ENTRANCE, 3909 should have seen some difference. While the latest census median annual household figure income is now $36,088, it was $29,390 back in 2006, which is a net increase of $6,697 Subtract from that the median mortgage repayment increase of $4,200 and a mortgage broker’s clients could be up to $2,497 better off each year even without factoring in mortgage rate cuts.