If you were to buy a house locally at the current median price of $760,000 and had 10% deposit, then you would need a mortgage for $684,000. This is a very large mortgage compared to state.
With a net change of 1680 people, SCARBOROUGH 6019 has grown considerably when compared to other suburbs in WA.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in SCARBOROUGH, 6019 rank at number 188th in State or 768th 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 SCARBOROUGH, 6019 should have seen some difference. While the latest census median annual household figure income is now $81,432, it was $55,962 back in 2006, which is a net increase of $25,469 Subtract from that the median mortgage repayment increase of $9,204 and a mortgage broker’s clients could be up to $16,265 better off each year even without factoring in mortgage rate cuts.