If you were to buy a house locally at the current median price of $1,835,000 and had 10% deposit, then you would need a mortgage for $1,651,500. This is a very large mortgage compared to state.
LANE COVE, 2066 is number 531th in a list of the country’s fastest growing suburbs, and number 166th in State. It has had an average population growth of 78.60 over the period between the last two national censuses.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,600 which is $443 more every month. As a percentage rise, this makes LANE COVE, 2066 the number 243th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
The local median household income has increased by $379 which is a theoretical $23,036 available for a LANE COVE mortgage broker to find a home loan.