If you were to buy a house locally at the current median price of $1,582,500 and had 10% deposit, then you would need a mortgage for $1,424,250. This is a very large mortgage compared to state.
Between 2005 and 2011 the population of SWANBOURNE, 6010 grew an average of -0.80 people each year. This figure of 681.40% per annum means SWANBOURNE is one of the more rapidly growing suburbs in WA.
Mortgage brokers in SWANBOURNE, 6010 have seen that the median mortgage loan repayment has increased substantially between the last two census periods, changing from $1,860 to $2,600.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in SWANBOURNE, 6010 should have seen some difference. While the latest census median annual household figure income is now $129,636, it was $87,344 back in 2006, which is a net increase of $42,291 Subtract from that the median mortgage repayment increase of $8,880 and a mortgage broker’s clients could be up to $33,411 better off each year even without factoring in mortgage rate cuts.