If you were to buy a house locally at the current median price of $1,252,500 and had 10% deposit, then you would need a mortgage for $1,127,250. This is a very large mortgage compared to state.
Australia’s total population growth over the last five years has been 1960.00 This means that KOGARAH BAY, 2217’s growth of 183 people is considerably above the mean for the country as a whole.
With a median housing loan repayment of $2,817 a month, KOGARAH BAY , 2217 mortgage brokers are seeing mortgage holders paying $617 more than 2006.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in KOGARAH BAY, 2217 should have seen some difference. While the latest census median annual household figure income is now $86,372, it was $64,896 back in 2006, which is a net increase of $21,476 Subtract from that the median mortgage repayment increase of $7,404 and a mortgage broker’s clients could be up to $14,072 better off each year even without factoring in mortgage rate cuts.