If you were to buy a house locally at the current median price of $1,435,000 and had 10% deposit, then you would need a mortgage for $1,291,500. This is a very large mortgage compared to state.
Australia’s total population growth over the last five years has been 3956.00 This means that CHIPPENDALE, 2008’s growth of -10 people is considerably above the mean for the country as a whole.
CHIPPENDALE, 2008 has seen a substantial increase in the amount of mortgage repayment the median home owner makes every month. Between 2006 and 2011 mortgage brokers have seen the median housing loan repayment increase from $2,000 to $2,167.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in CHIPPENDALE, 2008 should have seen some difference. While the latest census median annual household figure income is now $71,292, it was $57,704 back in 2006, which is a net increase of $13,587 Subtract from that the median mortgage repayment increase of $2,004 and a mortgage broker’s clients could be up to $11,583 better off each year even without factoring in mortgage rate cuts.