If you were to buy a house locally at the current median price of $1,235,000 and had 10% deposit, then you would need a mortgage for $1,111,500. This is quite a large mortgage compared to state.
With a net change of 55 people, COMO 2226 has not grown much when compared to other suburbs in NSW.
COMO, 2226 has seen a substantial increase in the amount of mortgage repayment the median home owner makes every month. Between 2006 and 2011 mortgage brokers have seen the median housing loan repayment increase from $1,950 to $2,600.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in COMO, 2226 should have seen some difference. While the latest census median annual household figure income is now $117,208, it was $86,741 back in 2006, which is a net increase of $30,466 Subtract from that the median mortgage repayment increase of $7,800 and a mortgage broker’s clients could be up to $22,666 better off each year even without factoring in mortgage rate cuts.