If you were to buy a house locally at the current median price of $292,000 and had 10% deposit, then you would need a mortgage for $262,800. This is small than average mortgage compared to state.
Australia’s total population growth over the last five years has been 7492.00 This means that MELTON, 3337’s growth of 286 people is well above the mean for the country as a whole.
MELTON, 3337 has seen a low 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 $934 to $1,200.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in MELTON, 3337 should have seen some difference. While the latest census median annual household figure income is now $45,656, it was $40,638 back in 2006, which is a net increase of $5,018 Subtract from that the median mortgage repayment increase of $3,192 and a mortgage broker’s clients could be up to $1,826 better off each year even without factoring in mortgage rate cuts.