MOOROOLBARK is one of the more expensive suburbs in VIC. Median home prices are $680,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $612,000 home loan.
Across the whole country MOOROOLBARK,3138 is number 88th fastest growing suburb by population growth, and 47th in State. Its population grew by 1354 people over the last five years.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in MOOROOLBARK, 3138 rank at number 342th in State or 2769th 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 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.