If you were to buy a house locally at the current median price of $575,000 and had 10% deposit, then you would need a mortgage for $517,500. This is quite a large mortgage compared to state.
STAFFORD HEIGHTS, 4053 is number 885th in a list of the country’s fastest growing suburbs, and number 201th in State. It has had an average population growth of -2.00 over the period between the last two national censuses.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,000 which is $700 more every month. As a percentage rise, this makes STAFFORD HEIGHTS, 4053 the number 1453th 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 STAFFORD HEIGHTS, 4053 should have seen some difference. While the latest census median annual household figure income is now $71,500, it was $57,085 back in 2006, which is a net increase of $14,414 Subtract from that the median mortgage repayment increase of $8,400 and a mortgage broker’s clients could be up to $6,014 better off each year even without factoring in mortgage rate cuts.