No matter where in NSW you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in ELERMORE VALE , 2287 is $530,000 this month which means that a mortgage for 80% of that value would be $424,000.
Between 2005 and 2011 the population of ELERMORE VALE, 2287 grew an average of 91.20 people each year. This figure of 1017.20% per annum means ELERMORE VALE is one of the more rapidly growing suburbs in NSW.
Mortgage brokers in ELERMORE VALE, 2287 have seen that the median mortgage loan repayment has increased somewhat between the last two census periods, changing from $1,300 to $1,733.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in ELERMORE VALE, 2287 should have seen some difference. While the latest census median annual household figure income is now $63,024, it was $55,926 back in 2006, which is a net increase of $7,098 Subtract from that the median mortgage repayment increase of $5,196 and a mortgage broker’s clients could be up to $1,902 better off each year even without factoring in mortgage rate cuts.