House prices in RYDE have seen a high level of growth over the last year, which means it's more important than ever to get a good NSW mortgage broker to help you choose the right home loan product.
Between 2005 and 2011 the population of RYDE, 2112 grew an average of 243.40 people each year. This figure of 4299.60% per annum means RYDE is one of the fastest growing suburbs in NSW.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,300 which is $393 more every month. As a percentage rise, this makes RYDE, 2112 the number 639th 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 RYDE, 2112 should have seen some difference. While the latest census median annual household figure income is now $71,760, it was $57,652 back in 2006, which is a net increase of $14,107 Subtract from that the median mortgage repayment increase of $4,716 and a mortgage broker’s clients could be up to $9,391 better off each year even without factoring in mortgage rate cuts.