CANTERBURY is one of the most expensive suburbs in NSW. Median home prices are $1,252,500 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $1,127,250 home loan.
Australia’s total population growth over the last five years has been 6060.00 This means that CANTERBURY, 2193’s growth of 745 people is well above the mean for the country as a whole.
CANTERBURY 2193 homeowners are paying around 24.06% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay less than the median average increase of NSW which is 29.63%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in CANTERBURY, 2193 should have seen some difference. While the latest census median annual household figure income is now $63,908, it was $52,332 back in 2006, which is a net increase of $11,575 Subtract from that the median mortgage repayment increase of $5,004 and a mortgage broker’s clients could be up to $6,571 better off each year even without factoring in mortgage rate cuts.