If you were to buy a house locally at the current median price of $595,000 and had 10% deposit, then you would need a mortgage for $535,500. This is an average sized mortgage compared to state.
Between 2005 and 2011 the population of GLENDENNING, 2761 grew an average of 41.00 people each year. This figure of 985.00% per annum means GLENDENNING is one of the more rapidly growing suburbs in NSW.
GLENDENNING 2761 homeowners are paying around 18.29% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay much less than the median average increase of NSW which is 29.63%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in GLENDENNING, 2761 should have seen some difference. While the latest census median annual household figure income is now $82,212, it was $64,989 back in 2006, which is a net increase of $17,222 Subtract from that the median mortgage repayment increase of $3,804 and a mortgage broker’s clients could be up to $13,418 better off each year even without factoring in mortgage rate cuts.