MITCHELTON is one of the more expensive suburbs in QLD. Median home prices are $630,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $567,000 home loan.
MITCHELTON, 4053 is number 705th in a list of the country’s fastest growing suburbs, and number 161th in State. It has had an average population growth of 195.40 over the period between the last two national censuses.
In QLD the median mortgage repayment has increased from $1,125 to $1,633 which is $-579 less than the median monthly home loan repayment in MITCHELTON, QLD.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in MITCHELTON, 4053 should have seen some difference. While the latest census median annual household figure income is now $82,056, it was $59,909 back in 2006, which is a net increase of $22,146 Subtract from that the median mortgage repayment increase of $8,988 and a mortgage broker’s clients could be up to $13,158 better off each year even without factoring in mortgage rate cuts.