If you were to buy a house locally at the current median price of $1,182,000 and had 10% deposit, then you would need a mortgage for $1,063,800. This is a very large mortgage compared to state.
Australia’s total population growth over the last five years has been 11655.00 This means that NORTH MELBOURNE, 3051’s growth of 1793 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 $-523 less than the median monthly home loan repayment in NORTH MELBOURNE, VIC.
Weekly gross incomes in NORTH MELBOURNE, 3051 have increased by $360. In the same period median mortgage loan repayments have increased by $310.