If you were to buy a house locally at the current median price of $920,000 and had 10% deposit, then you would need a mortgage for $828,000. This is quite a large mortgage compared to state.
The average suburb population growth in NSW has been 3164.30% since 2006, so the 3916.00% population change in LOFTUS 2232 is above average.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,492 which is $595 more every month. As a percentage rise, this makes LOFTUS, 2232 the number 460th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in LOFTUS, 2232 should have seen some difference. While the latest census median annual household figure income is now $86,892, it was $72,836 back in 2006, which is a net increase of $14,055 Subtract from that the median mortgage repayment increase of $7,140 and a mortgage broker’s clients could be up to $6,915 better off each year even without factoring in mortgage rate cuts.