NEW FARM is one of the most expensive suburbs in QLD. Median home prices are $1,600,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $1,440,000 home loan.
Between 2005 and 2011 the population of NEW FARM, 4005 grew an average of 17.20 people each year. This figure of 2246.00% per annum means NEW FARM is one of the fastest growing suburbs in QLD.
Mortgage payments in NEW FARM , 4005 have increased by $553 over the 5-year census period.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in NEW FARM, 4005 should have seen some difference. While the latest census median annual household figure income is now $84,240, it was $59,254 back in 2006, which is a net increase of $24,986 Subtract from that the median mortgage repayment increase of $6,636 and a mortgage broker’s clients could be up to $18,350 better off each year even without factoring in mortgage rate cuts.