ENFIELD is one of the most expensive suburbs in NSW. Median home prices are $1,505,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $1,354,500 home loan.
Between 2005 and 2011 the population of ENFIELD, 2136 grew an average of 25.60 people each year. This figure of 519.20% per annum means ENFIELD is one of the more rapidly growing suburbs in NSW.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,300 which is $494 more every month. As a percentage rise, this makes ENFIELD, 2136 the number 639th 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 ENFIELD, 2136 should have seen some difference. While the latest census median annual household figure income is now $67,184, it was $55,603 back in 2006, which is a net increase of $11,580 Subtract from that the median mortgage repayment increase of $5,928 and a mortgage broker’s clients could be up to $5,652 better off each year even without factoring in mortgage rate cuts.