If you were to buy a house locally at the current median price of $640,000 and had 10% deposit, then you would need a mortgage for $576,000. This is an average sized mortgage compared to state.
Across the whole country OAK FLATS,2529 is number 973th fastest growing suburb by population growth, and 311th in State. Its population grew by -89 people over the last five years.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in OAK FLATS, 2529 rank at number 792th in State or 3434th 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 OAK FLATS, 2529 should have seen some difference. While the latest census median annual household figure income is now $56,732, it was $47,944 back in 2006, which is a net increase of $8,788 Subtract from that the median mortgage repayment increase of $5,196 and a mortgage broker’s clients could be up to $3,592 better off each year even without factoring in mortgage rate cuts.