MERRYLANDS is one of the more expensive suburbs in NSW. Median home prices are $640,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $576,000 home loan.
Between 2005 and 2011 the population of MERRYLANDS, 2160 grew an average of 1152.60 people each year. This figure of 5311.60% per annum means MERRYLANDS is one of the fastest growing suburbs in NSW.
In NSW the median mortgage repayment has increased from $1,403 to $1,783 which is $-215 less than the median monthly home loan repayment in MERRYLANDS, NSW.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in MERRYLANDS, 2160 should have seen some difference. While the latest census median annual household figure income is now $54,184, it was $45,396 back in 2006, which is a net increase of $8,788 Subtract from that the median mortgage repayment increase of $4,776 and a mortgage broker’s clients could be up to $4,012 better off each year even without factoring in mortgage rate cuts.