OXLEY is one of the more expensive suburbs in QLD. Median home prices are $543,750 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $489,375 home loan.
OXLEY 4075 has seen a high level of growth in it’s population over the last five years.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,976 which is $676 more every month. As a percentage rise, this makes OXLEY, 4075 the number 1804th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in OXLEY, 4075 should have seen some difference. While the latest census median annual household figure income is now $78,676, it was $57,990 back in 2006, which is a net increase of $20,685 Subtract from that the median mortgage repayment increase of $8,112 and a mortgage broker’s clients could be up to $12,573 better off each year even without factoring in mortgage rate cuts.