If you were to buy a house locally at the current median price of $1,545,000 and had 10% deposit, then you would need a mortgage for $1,390,500. This is a very large mortgage compared to state.
Between 2005 and 2011 the population of PRAHRAN, 3181 grew an average of 108.40 people each year. This figure of 2218.20% per annum means PRAHRAN is one of the fastest growing suburbs in VIC.
In VIC the median mortgage repayment has increased from $1,111 to $1,477 which is $-906 less than the median monthly home loan repayment in PRAHRAN, VIC.
The local median household income has increased by $440 which is a theoretical $33,020 available for a PRAHRAN mortgage broker to find a home loan.