Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in LORN, 2320 is already $510,000, which makes it the number 968th in NSW on a list ordered by most expensive. Make sure that you get good LORN mortgage broker to look for the best deal.
Australia’s total population growth over the last five years has been 1163.00 This means that LORN, 2320’s growth of -37 people is about the same as the mean for the country as a whole.
LORN, 2320 has seen a average 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 $1,285 to $1,600.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in LORN, 2320 should have seen some difference. While the latest census median annual household figure income is now $72,904, it was $57,298 back in 2006, which is a net increase of $15,605 Subtract from that the median mortgage repayment increase of $3,780 and a mortgage broker’s clients could be up to $11,825 better off each year even without factoring in mortgage rate cuts.