If you were to buy a house locally at the current median price of $1,200,000 and had 10% deposit, then you would need a mortgage for $1,080,000. This is a very large mortgage compared to state.
ALLAWAH, 2218 is number 1228th in a list of the country’s fastest growing suburbs, and number 394th in State. It has had an average population growth of 88.40 over the period between the last two national censuses.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in ALLAWAH, 2218 rank at number 1421th in State or 5116th nationally when listed in order of median monthly mortgage payment.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in ALLAWAH, 2218 should have seen some difference. While the latest census median annual household figure income is now $62,608, it was $53,315 back in 2006, which is a net increase of $9,292 Subtract from that the median mortgage repayment increase of $3,204 and a mortgage broker’s clients could be up to $6,088 better off each year even without factoring in mortgage rate cuts.