If you were to buy a house locally at the current median price of $948,750 and had 10% deposit, then you would need a mortgage for $853,875. This is a very large mortgage compared to state.
PRESTON 3072 has seen a high level of growth in it’s population over the last five years.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in PRESTON, 3072 rank at number 204th in State or 2072th 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 PRESTON, 3072 should have seen some difference. While the latest census median annual household figure income is now $60,060, it was $45,734 back in 2006, which is a net increase of $14,326 Subtract from that the median mortgage repayment increase of $6,756 and a mortgage broker’s clients could be up to $7,570 better off each year even without factoring in mortgage rate cuts.