If you were to buy a house locally at the current median price of $460,000 and had 10% deposit, then you would need a mortgage for $414,000. This is an average sized mortgage compared to state.
WOODY POINT, 4019 is number 1599th in a list of the country’s fastest growing suburbs, and number 376th in State. It has had an average population growth of 59.80 over the period between the last two national censuses.
WOODY POINT, 4019 has seen a large increase in the amount of mortgage repayment the median home owner makes every month. Between 2006 and 2011 mortgage brokers have seen the median housing loan repayment increase from $1,192 to $1,755.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in WOODY POINT, 4019 should have seen some difference. While the latest census median annual household figure income is now $46,228, it was $34,845 back in 2006, which is a net increase of $11,382 Subtract from that the median mortgage repayment increase of $6,756 and a mortgage broker’s clients could be up to $4,626 better off each year even without factoring in mortgage rate cuts.