If you were to buy a house locally at the current median price of $1,389,000 and had 10% deposit, then you would need a mortgage for $1,250,100. This is a very large mortgage compared to state.
The average suburb population growth in NSW has been 3164.30% since 2006, so the 18679.00% population change in CHERRYBROOK 2126 is well above average.
With a median housing loan repayment of $2,600 a month, CHERRYBROOK , 2126 mortgage brokers are seeing mortgage holders paying $600 more than 2006.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in CHERRYBROOK, 2126 should have seen some difference. While the latest census median annual household figure income is now $117,884, it was $96,569 back in 2006, which is a net increase of $21,314 Subtract from that the median mortgage repayment increase of $7,200 and a mortgage broker’s clients could be up to $14,114 better off each year even without factoring in mortgage rate cuts.