If you were to buy a house locally at the current median price of $289,000 and had 10% deposit, then you would need a mortgage for $260,100. This is relatively small mortgage compared to state.
Australia’s total population growth over the last five years has been 1733.00 This means that MAITLAND, 2320’s growth of 406 people is about the same as the mean for the country as a whole.
In NSW the median mortgage repayment has increased from $1,403 to $1,783 which is $283 more than the median monthly home loan repayment in MAITLAND, NSW.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in MAITLAND, 2320 should have seen some difference. While the latest census median annual household figure income is now $48,516, it was $33,269 back in 2006, which is a net increase of $15,246 Subtract from that the median mortgage repayment increase of $5,142 and a mortgage broker’s clients could be up to $10,104 better off each year even without factoring in mortgage rate cuts.