If you were to buy a house locally at the current median price of $960,000 and had 10% deposit, then you would need a mortgage for $864,000. This is a very large mortgage compared to state.
Australia’s total population growth over the last five years has been 2839.00 This means that MYRTLE BANK, 5064’s growth of 105 people is considerably above the mean for the country as a whole.
Mortgage brokers in MYRTLE BANK, 5064 have seen that the median mortgage loan repayment has increased substantially between the last two census periods, changing from $1,300 to $2,167.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in MYRTLE BANK, 5064 should have seen some difference. While the latest census median annual household figure income is now $71,708, it was $58,240 back in 2006, which is a net increase of $13,468 Subtract from that the median mortgage repayment increase of $10,404 and a mortgage broker’s clients could be up to $3,064 better off each year even without factoring in mortgage rate cuts.