If you were to buy a house locally at the current median price of $690,000 and had 10% deposit, then you would need a mortgage for $621,000. This is an average sized mortgage compared to state.
BLACKTOWN, 2148 is number 3rd in a list of the country’s fastest growing suburbs, and number 1st in State. It has had an average population growth of 892.00 over the period between the last two national censuses.
BLACKTOWN 2148 homeowners are paying around 20.09% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay much less than the median average increase of NSW which is 29.63%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in BLACKTOWN, 2148 should have seen some difference. While the latest census median annual household figure income is now $61,048, it was $50,523 back in 2006, which is a net increase of $10,524 Subtract from that the median mortgage repayment increase of $3,828 and a mortgage broker’s clients could be up to $6,696 better off each year even without factoring in mortgage rate cuts.