Nationally house prices have risen pretty constantly, which means that mortgages are getting bigger. The median house price in COPACABANA, 2251 is already $864,000, which makes it the number 463th in NSW on a list ordered by most expensive. Make sure that you get good COPACABANA mortgage broker to look for the best deal.
NSW has seen an average of 3164.30% rowth over the last 5 years. This means that with above the state figure, COPACABANA, 2251 figure of 20 represents a 2590.00% change.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,924 which is $424 more every month. As a percentage rise, this makes COPACABANA, 2251 the number 2061th 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 COPACABANA, 2251 should have seen some difference. While the latest census median annual household figure income is now $77,376, it was $60,933 back in 2006, which is a net increase of $16,442 Subtract from that the median mortgage repayment increase of $5,088 and a mortgage broker’s clients could be up to $11,354 better off each year even without factoring in mortgage rate cuts.