If you were to buy a house locally at the current median price of $305,000 and had 10% deposit, then you would need a mortgage for $274,500. This is small than average mortgage compared to state.
Across the whole country MAREEBA,4880 is number 462th fastest growing suburb by population growth, and 96th in State. Its population grew by 1187 people over the last five years.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in MAREEBA, 4880 rank at number 755th in State or 2233th nationally when listed in order of median monthly mortgage payment.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in MAREEBA, 4880 should have seen some difference. While the latest census median annual household figure income is now $46,748, it was $37,960 back in 2006, which is a net increase of $8,788 Subtract from that the median mortgage repayment increase of $6,504 and a mortgage broker’s clients could be up to $2,284 better off each year even without factoring in mortgage rate cuts.