If you were to buy a house locally at the current median price of $161,500 and had 10% deposit, then you would need a mortgage for $145,350. This is relatively small mortgage compared to state.
Australia’s total population growth over the last five years has been 8986.00 This means that NEWMAN, 6753’s growth of 3946 people is well above the mean for the country as a whole.
Mortgage brokers in NEWMAN, 6753 have seen that the median mortgage loan repayment has decreased notably between the last two census periods, changing from $360 to $364.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in NEWMAN, 6753 should have seen some difference. While the latest census median annual household figure income is now $147,004, it was $113,131 back in 2006, which is a net increase of $33,872 Subtract from that the median mortgage repayment increase of $48 and a mortgage broker’s clients could be up to $33,824 better off each year even without factoring in mortgage rate cuts.