If you were to buy a house locally at the current median price of $330,000 and had 10% deposit, then you would need a mortgage for $297,000. This is small than average mortgage compared to state.
Between 2005 and 2011 the population of REYNELLA, 5161 grew an average of 6.00 people each year. This figure of 872.20% per annum means REYNELLA is one of the fastest growing suburbs in SA.
Mortgage brokers in REYNELLA, 5161 have seen that the median mortgage loan repayment has decreased slightly between the last two census periods, changing from $944 to $1,300.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in REYNELLA, 5161 should have seen some difference. While the latest census median annual household figure income is now $49,816, it was $42,692 back in 2006, which is a net increase of $7,124 Subtract from that the median mortgage repayment increase of $4,272 and a mortgage broker’s clients could be up to $2,852 better off each year even without factoring in mortgage rate cuts.