BERKELEY VALE is one of the less expensive suburbs in NSW. Median home prices are $540,775 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $486,698 home loan.
Australia’s total population growth over the last five years has been 8386.00 This means that BERKELEY VALE, 2261’s growth of 507 people is well above the mean for the country as a whole.
With a median housing loan repayment of $1,800 a month, BERKELEY VALE , 2261 mortgage brokers are seeing mortgage holders paying $392 more than 2006.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BERKELEY VALE, 2261 should have seen some difference. While the latest census median annual household figure income is now $59,020, it was $50,809 back in 2006, which is a net increase of $8,210 Subtract from that the median mortgage repayment increase of $4,704 and a mortgage broker’s clients could be up to $3,506 better off each year even without factoring in mortgage rate cuts.