No matter where in NSW you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in BALMAIN , 2041 is $2,166,000 this month which means that a mortgage for 80% of that value would be $1,732,800.
Between 2005 and 2011 the population of BALMAIN, 2041 grew an average of 76.00 people each year. This figure of 1936.60% per annum means BALMAIN 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 $3,033 which is $468 more every month. As a percentage rise, this makes BALMAIN, 2041 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 BALMAIN, 2041 should have seen some difference. While the latest census median annual household figure income is now $127,712, it was $97,546 back in 2006, which is a net increase of $30,165 Subtract from that the median mortgage repayment increase of $5,616 and a mortgage broker’s clients could be up to $24,549 better off each year even without factoring in mortgage rate cuts.