If you were to buy a house locally at the current median price of $2,600,000 and had 10% deposit, then you would need a mortgage for $2,340,000. This is a very large mortgage compared to state.
The average suburb population growth in NSW has been 3164.30% since 2006, so the 10949.00% population change in CREMORNE 2090 is well above average.
CREMORNE, 2090 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 $2,498 to $2,817.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in CREMORNE, 2090 should have seen some difference. While the latest census median annual household figure income is now $110,344, it was $90,984 back in 2006, which is a net increase of $19,359 Subtract from that the median mortgage repayment increase of $3,828 and a mortgage broker’s clients could be up to $15,531 better off each year even without factoring in mortgage rate cuts.