Which suburb you live in obviously impacts how much your next mortgage is. If we assume that the median house price is directly linked to the size of mortgages in a suburb, then SOUTH YARRA is number 191th on a national scale of largest to smallest mortgages. Make sure that you get a good mortgage broker who can service SOUTH YARRA, 3141.
Australia’s total population growth over the last five years has been 19034.00 This means that SOUTH YARRA, 3141’s growth of 1141 people is well above the mean for the country as a whole.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,300 which is $474 more every month. As a percentage rise, this makes SOUTH YARRA, 3141 the number 639th 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 SOUTH YARRA, 3141 should have seen some difference. While the latest census median annual household figure income is now $88,036, it was $63,684 back in 2006, which is a net increase of $24,351 Subtract from that the median mortgage repayment increase of $5,694 and a mortgage broker’s clients could be up to $18,657 better off each year even without factoring in mortgage rate cuts.