PARKDALE is one of the most expensive suburbs in VIC. Median home prices are $1,250,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $1,125,000 home loan.
Australia’s total population growth over the last five years has been 11084.00 This means that PARKDALE, 3195’s growth of 566 people is well above the mean for the country as a whole.
PARKDALE 3195 homeowners are paying around 33.33% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay about the same as the median average increase of VIC which is 35.71%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in PARKDALE, 3195 should have seen some difference. While the latest census median annual household figure income is now $72,904, it was $58,229 back in 2006, which is a net increase of $14,674 Subtract from that the median mortgage repayment increase of $6,000 and a mortgage broker’s clients could be up to $8,674 better off each year even without factoring in mortgage rate cuts.