KINGSGROVE is one of the most expensive suburbs in NSW. Median home prices are $1,203,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $1,082,700 home loan.
Across the whole country KINGSGROVE,2208 is number 355th fastest growing suburb by population growth, and 107th in State. Its population grew by 821 people over the last five years.
KINGSGROVE 2208 homeowners are paying around 44.26% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay more 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 KINGSGROVE, 2208 should have seen some difference. While the latest census median annual household figure income is now $65,364, it was $54,163 back in 2006, which is a net increase of $11,200 Subtract from that the median mortgage repayment increase of $9,204 and a mortgage broker’s clients could be up to $1,996 better off each year even without factoring in mortgage rate cuts.