If you were to buy a house locally at the current median price of $2,010,000 and had 10% deposit, then you would need a mortgage for $1,809,000. This is a very large mortgage compared to state.
Between 2005 and 2011 the population of GORDON, 2072 grew an average of 119.60 people each year. This figure of 1298.20% per annum means GORDON is one of the fastest growing suburbs in NSW.
GORDON, 2072 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 $2,625 to $3,000.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in GORDON, 2072 should have seen some difference. While the latest census median annual household figure income is now $115,596, it was $100,854 back in 2006, which is a net increase of $14,742 Subtract from that the median mortgage repayment increase of $4,494 and a mortgage broker’s clients could be up to $10,248 better off each year even without factoring in mortgage rate cuts.