If you were to buy a house locally at the current median price of $1,690,000 and had 10% deposit, then you would need a mortgage for $1,521,000. This is a very large mortgage compared to state.
THE HILL 2300 has seen considerable shrinkage in it’s population over the last five years.
Mortgage brokers in THE HILL, 2300 have seen that the median mortgage loan repayment has increased somewhat between the last two census periods, changing from $1,700 to $1,993.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in THE HILL, 2300 should have seen some difference. While the latest census median annual household figure income is now $75,868, it was $55,785 back in 2006, which is a net increase of $20,082 Subtract from that the median mortgage repayment increase of $3,516 and a mortgage broker’s clients could be up to $16,566 better off each year even without factoring in mortgage rate cuts.