If you were to buy a house locally at the current median price of $267,250 and had 10% deposit, then you would need a mortgage for $240,525. This is relatively small mortgage compared to state.
Between 2005 and 2011 the population of MIRBOO NORTH, 3871 grew an average of -78.80 people each year. This figure of 439.20% per annum means MIRBOO NORTH is one of the more rapidly growing suburbs in VIC.
Mortgage brokers in MIRBOO NORTH, 3871 have seen that the median mortgage loan repayment has decreased slightly between the last two census periods, changing from $900 to $1,192.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in MIRBOO NORTH, 3871 should have seen some difference. While the latest census median annual household figure income is now $49,088, it was $40,606 back in 2006, which is a net increase of $8,481 Subtract from that the median mortgage repayment increase of $3,504 and a mortgage broker’s clients could be up to $4,977 better off each year even without factoring in mortgage rate cuts.