If you were to buy a house locally at the current median price of $792,500 and had 10% deposit, then you would need a mortgage for $713,250. This is a very large mortgage compared to state.
WOOLLOONGABBA 4102 has seen a high level of growth in it’s population over the last five years.
In QLD the median mortgage repayment has increased from $1,125 to $1,633 which is $-567 less than the median monthly home loan repayment in WOOLLOONGABBA, QLD.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in WOOLLOONGABBA, 4102 should have seen some difference. While the latest census median annual household figure income is now $69,160, it was $46,862 back in 2006, which is a net increase of $22,297 Subtract from that the median mortgage repayment increase of $7,200 and a mortgage broker’s clients could be up to $15,097 better off each year even without factoring in mortgage rate cuts.