Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in THORNBURY, 3071 is already $1,160,000, which makes it the number 96th in VIC on a list ordered by most expensive. Make sure that you get good THORNBURY mortgage broker to look for the best deal.
Between 2005 and 2011 the population of THORNBURY, 3071 grew an average of 143.40 people each year. This figure of 3466.60% per annum means THORNBURY is one of the fastest growing suburbs in VIC.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,000 which is $572 more every month. As a percentage rise, this makes THORNBURY, 3071 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 THORNBURY, 3071 should have seen some difference. While the latest census median annual household figure income is now $66,352, it was $48,573 back in 2006, which is a net increase of $17,778 Subtract from that the median mortgage repayment increase of $6,864 and a mortgage broker’s clients could be up to $10,914 better off each year even without factoring in mortgage rate cuts.