PALMWOODS is one of the more expensive suburbs in QLD. Median home prices are $510,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $459,000 home loan.
Across the whole country PALMWOODS,4555 is number 1186th fastest growing suburb by population growth, and 280th in State. Its population grew by 1004 people over the last five years.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in PALMWOODS, 4555 rank at number 592th in State or 1703th 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 PALMWOODS, 4555 should have seen some difference. While the latest census median annual household figure income is now $58,864, it was $52,265 back in 2006, which is a net increase of $6,598 Subtract from that the median mortgage repayment increase of $7,284 and a mortgage broker’s clients could be up to $-685 better off each year even without factoring in mortgage rate cuts.