Which suburb you live in obviously impacts how much your next mortgage is. If we assume that the median house price is directly linked to the size of mortgages in a suburb, then YARRAVILLE is number 606th on a national scale of largest to smallest mortgages. Make sure that you get a good mortgage broker who can service YARRAVILLE, 3013.
YARRAVILLE, 3013 is number 247th in a list of the country’s fastest growing suburbs, and number 107th in State. It has had an average population growth of 204.20 over the period between the last two national censuses.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,200 which is $600 more every month. As a percentage rise, this makes YARRAVILLE, 3013 the number 767th 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 YARRAVILLE, 3013 should have seen some difference. While the latest census median annual household figure income is now $82,316, it was $58,344 back in 2006, which is a net increase of $23,972 Subtract from that the median mortgage repayment increase of $7,200 and a mortgage broker’s clients could be up to $16,772 better off each year even without factoring in mortgage rate cuts.