If you were to buy a house locally at the current median price of $1,605,000 and had 10% deposit, then you would need a mortgage for $1,444,500. This is a very large mortgage compared to state.
Between 2005 and 2011 the population of MAIN BEACH, 4217 grew an average of 34.20 people each year. This figure of 679.00% per annum means MAIN BEACH is one of the more rapidly growing suburbs in QLD.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,400 which is $529 more every month. As a percentage rise, this makes MAIN BEACH, 4217 the number 504th 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 MAIN BEACH, 4217 should have seen some difference. While the latest census median annual household figure income is now $70,512, it was $61,822 back in 2006, which is a net increase of $8,689 Subtract from that the median mortgage repayment increase of $6,354 and a mortgage broker’s clients could be up to $2,335 better off each year even without factoring in mortgage rate cuts.