MOSMAN is one of the most expensive suburbs in NSW. Median home prices are $3,220,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $2,898,000 home loan.
Across the whole country MOSMAN,2088 is number 34th fastest growing suburb by population growth, and 11th in State. Its population grew by 1217 people over the last five years.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $3,033 which is $433 more every month. As a percentage rise, this makes MOSMAN, 2088 the number 77th 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 MOSMAN, 2088 should have seen some difference. While the latest census median annual household figure income is now $128,180, it was $99,611 back in 2006, which is a net increase of $28,568 Subtract from that the median mortgage repayment increase of $5,196 and a mortgage broker’s clients could be up to $23,372 better off each year even without factoring in mortgage rate cuts.