If you were to buy a house locally at the current median price of $2,112,000 and had 10% deposit, then you would need a mortgage for $1,900,800. This is a very large mortgage compared to state.
CREMORNE, 2090 is number 392th in a list of the country’s fastest growing suburbs, and number 117th in State. It has had an average population growth of 121.40 over the period between the last two national censuses.
In NSW the median mortgage repayment has increased from $1,403 to $1,783 which is $-1,034 less than the median monthly home loan repayment in CREMORNE, NSW.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in CREMORNE, 2090 should have seen some difference. While the latest census median annual household figure income is now $110,344, it was $90,984 back in 2006, which is a net increase of $19,359 Subtract from that the median mortgage repayment increase of $3,828 and a mortgage broker’s clients could be up to $15,531 better off each year even without factoring in mortgage rate cuts.