If you were to buy a house locally at the current median price of $125,500 and had 10% deposit, then you would need a mortgage for $112,950. This is relatively small mortgage compared to state.
The average suburb population growth in NSW has been 3164.30% since 2006, so the 514.00% population change in GANMAIN 2702 is below average.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $845 which is $227 more every month. As a percentage rise, this makes GANMAIN, 2702 the number 6077th 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 GANMAIN, 2702 should have seen some difference. While the latest census median annual household figure income is now $36,400, it was $29,686 back in 2006, which is a net increase of $6,713 Subtract from that the median mortgage repayment increase of $2,730 and a mortgage broker’s clients could be up to $3,983 better off each year even without factoring in mortgage rate cuts.