No matter where in NSW you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in BYRON BAY , 2481 is $992,500 this month which means that a mortgage for 80% of that value would be $794,000.
BYRON BAY, 2481 is number 1340th in a list of the country’s fastest growing suburbs, and number 431th in State. It has had an average population growth of -130.00 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 $1,733 which is $433 more every month. As a percentage rise, this makes BYRON BAY, 2481 the number 2627th 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 BYRON BAY, 2481 should have seen some difference. While the latest census median annual household figure income is now $45,292, it was $37,112 back in 2006, which is a net increase of $8,179 Subtract from that the median mortgage repayment increase of $5,196 and a mortgage broker’s clients could be up to $2,983 better off each year even without factoring in mortgage rate cuts.