If you were to buy a house locally at the current median price of $1,317,500 and had 10% deposit, then you would need a mortgage for $1,185,750. This is a very large mortgage compared to state.
Between 2005 and 2011 the population of BARDEN RIDGE, 2234 grew an average of -28.80 people each year. This figure of 789.20% per annum means BARDEN RIDGE is one of the more rapidly growing suburbs in NSW.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in BARDEN RIDGE, 2234 rank at number 536th in State or 2564th 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 BARDEN RIDGE, 2234 should have seen some difference. While the latest census median annual household figure income is now $129,740, it was $98,945 back in 2006, which is a net increase of $30,794 Subtract from that the median mortgage repayment increase of $6,174 and a mortgage broker’s clients could be up to $24,620 better off each year even without factoring in mortgage rate cuts.