MOOROOLBARK is one of the more expensive suburbs in VIC. Median home prices are $640,300 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $576,270 home loan.
Australia’s total population growth over the last five years has been 20589.00 This means that MOOROOLBARK, 3138’s growth of 1354 people is well above the mean for the country as a whole.
In VIC the median mortgage repayment has increased from $1,111 to $1,477 which is $-269 less than the median monthly home loan repayment in MOOROOLBARK, VIC.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in MOOROOLBARK, 3138 should have seen some difference. While the latest census median annual household figure income is now $70,772, it was $57,870 back in 2006, which is a net increase of $12,901 Subtract from that the median mortgage repayment increase of $5,952 and a mortgage broker’s clients could be up to $6,949 better off each year even without factoring in mortgage rate cuts.