Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in RINGWOOD, 3134 is already $859,000, which makes it the number 186th in VIC on a list ordered by most expensive. Make sure that you get good RINGWOOD mortgage broker to look for the best deal.
Across the whole country RINGWOOD,3134 is number 169th fastest growing suburb by population growth, and 86th in State. Its population grew by 823 people over the last five years.
Mortgage brokers in RINGWOOD, 3134 have seen that the median mortgage loan repayment has not changed much between the last two census periods, changing from $1,220 to $1,733.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in RINGWOOD, 3134 should have seen some difference. While the latest census median annual household figure income is now $58,916, it was $48,718 back in 2006, which is a net increase of $10,197 Subtract from that the median mortgage repayment increase of $6,156 and a mortgage broker’s clients could be up to $4,041 better off each year even without factoring in mortgage rate cuts.