If you were to buy a house locally at the current median price of $1,711,440 and had 10% deposit, then you would need a mortgage for $1,540,296. This is a very large mortgage compared to state.
Across the whole country EAST RYDE,2113 is number 2492th fastest growing suburb by population growth, and 778th in State. Its population grew by 87 people over the last five years.
EAST RYDE, 2113 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 $2,202 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 EAST RYDE, 2113 should have seen some difference. While the latest census median annual household figure income is now $105,768, it was $89,564 back in 2006, which is a net increase of $16,203 Subtract from that the median mortgage repayment increase of $4,776 and a mortgage broker’s clients could be up to $11,427 better off each year even without factoring in mortgage rate cuts.