If you were to buy a house locally at the current median price of $560,000 and had 10% deposit, then you would need a mortgage for $504,000. This is an average sized mortgage compared to state.
SPEERS POINT 2284 has seen not much change in it’s population over the last five years.
SPEERS POINT 2284 homeowners are paying around 33.31% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay about the same as the median average increase of NSW which is 29.63%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in SPEERS POINT, 2284 should have seen some difference. While the latest census median annual household figure income is now $60,320, it was $46,836 back in 2006, which is a net increase of $13,483 Subtract from that the median mortgage repayment increase of $5,196 and a mortgage broker’s clients could be up to $8,287 better off each year even without factoring in mortgage rate cuts.