Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in PORT MELBOURNE, 3207 is already $1,414,250, which makes it the number 53th in VIC on a list ordered by most expensive. Make sure that you get good PORT MELBOURNE mortgage broker to look for the best deal.
The average suburb population growth in VIC has been 4149.07% since 2006, so the 14421.00% population change in PORT MELBOURNE 3207 is well above average.
PORT MELBOURNE 3207 homeowners are paying around 19.07% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay much less than 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 PORT MELBOURNE, 3207 should have seen some difference. While the latest census median annual household figure income is now $103,740, it was $85,581 back in 2006, which is a net increase of $18,158 Subtract from that the median mortgage repayment increase of $4,872 and a mortgage broker’s clients could be up to $13,286 better off each year even without factoring in mortgage rate cuts.