If you were to buy a house locally at the current median price of $378,750 and had 10% deposit, then you would need a mortgage for $340,875. This is an average sized mortgage compared to state.
PORT NOARLUNGA, 5167 is number 2285th in a list of the country’s fastest growing suburbs, and number 204th in State. It has had an average population growth of 31.20 over the period between the last two national censuses.
PORT NOARLUNGA 5167 homeowners are paying around 41.90% 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 SA which is 43.56%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in PORT NOARLUNGA, 5167 should have seen some difference. While the latest census median annual household figure income is now $48,620, it was $38,963 back in 2006, which is a net increase of $9,656 Subtract from that the median mortgage repayment increase of $5,028 and a mortgage broker’s clients could be up to $4,628 better off each year even without factoring in mortgage rate cuts.