If you were to buy a house locally at the current median price of $1,618,000 and had 10% deposit, then you would need a mortgage for $1,456,200. This is a very large mortgage compared to state.
CROYDON, 2132 is number 444th in a list of the country’s fastest growing suburbs, and number 141th in State. It has had an average population growth of 146.80 over the period between the last two national censuses.
CROYDON, 2132 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 $1,907 to $2,400.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in CROYDON, 2132 should have seen some difference. While the latest census median annual household figure income is now $78,468, it was $61,100 back in 2006, which is a net increase of $17,368 Subtract from that the median mortgage repayment increase of $5,916 and a mortgage broker’s clients could be up to $11,452 better off each year even without factoring in mortgage rate cuts.