Which suburb you live in obviously impacts how much your next mortgage is. If we assume that the median house price is directly linked to the size of mortgages in a suburb, then SUMMER HILL is number 225th on a national scale of largest to smallest mortgages. Make sure that you get a good mortgage broker who can service SUMMER HILL, 2130.
Between 2005 and 2011 the population of SUMMER HILL, 2130 grew an average of 91.20 people each year. This figure of 1297.20% per annum means SUMMER HILL is one of the fastest growing suburbs in NSW.
Mortgage brokers in SUMMER HILL, 2130 have seen that the median mortgage loan repayment has increased substantially between the last two census periods, changing from $1,742 to $2,100.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in SUMMER HILL, 2130 should have seen some difference. While the latest census median annual household figure income is now $81,640, it was $60,351 back in 2006, which is a net increase of $21,288 Subtract from that the median mortgage repayment increase of $4,296 and a mortgage broker’s clients could be up to $16,992 better off each year even without factoring in mortgage rate cuts.