If you were to buy a house locally at the current median price of $620,000 and had 10% deposit, then you would need a mortgage for $558,000. This is an average sized mortgage compared to state.
MARDI 2259 has seen a high level of growth in it’s population over the last five years.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,997 which is $297 more every month. As a percentage rise, this makes MARDI, 2259 the number 1773th 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 MARDI, 2259 should have seen some difference. While the latest census median annual household figure income is now $69,160, it was $57,090 back in 2006, which is a net increase of $12,069 Subtract from that the median mortgage repayment increase of $3,564 and a mortgage broker’s clients could be up to $8,505 better off each year even without factoring in mortgage rate cuts.