No matter where in QLD you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in SCARBOROUGH , 4020 is $542,500 this month which means that a mortgage for 80% of that value would be $434,000.
Between 2005 and 2011 the population of SCARBOROUGH, 4020 grew an average of -370.60 people each year. This figure of 1577.00% per annum means SCARBOROUGH is one of the fastest growing suburbs in QLD.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,840 which is $504 more every month. As a percentage rise, this makes SCARBOROUGH, 4020 the number 2322th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in SCARBOROUGH, 4020 should have seen some difference. While the latest census median annual household figure income is now $50,232, it was $48,204 back in 2006, which is a net increase of $2,028 Subtract from that the median mortgage repayment increase of $6,054 and a mortgage broker’s clients could be up to $-4,026 better off each year even without factoring in mortgage rate cuts.