If you were to buy a house locally at the current median price of $430,000 and had 10% deposit, then you would need a mortgage for $387,000. This is an average sized mortgage compared to state.
With a net change of 5295 people, SPRINGFIELD LAKES 4300 has grown considerably when compared to other suburbs in QLD.
In QLD the median mortgage repayment has increased from $1,125 to $1,633 which is $-667 less than the median monthly home loan repayment in SPRINGFIELD LAKES, QLD.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in SPRINGFIELD LAKES, 4300 should have seen some difference. While the latest census median annual household figure income is now $92,040, it was $67,844 back in 2006, which is a net increase of $24,195 Subtract from that the median mortgage repayment increase of $7,200 and a mortgage broker’s clients could be up to $16,995 better off each year even without factoring in mortgage rate cuts.