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 BANORA POINT , 2486 is $565,000 this month which means that a mortgage for 80% of that value would be $452,000.
Across the whole country BANORA POINT,2486 is number 193th fastest growing suburb by population growth, and 61th in State. Its population grew by 365 people over the last five years.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,894 which is $553 more every month. As a percentage rise, this makes BANORA POINT, 2486 the number 2158th 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 BANORA POINT, 2486 should have seen some difference. While the latest census median annual household figure income is now $46,904, it was $39,800 back in 2006, which is a net increase of $7,103 Subtract from that the median mortgage repayment increase of $6,642 and a mortgage broker’s clients could be up to $461 better off each year even without factoring in mortgage rate cuts.