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 ELLIS LANE , 2570 is $1,215,000 this month which means that a mortgage for 80% of that value would be $972,000.
Between 2005 and 2011 the population of ELLIS LANE, 2570 grew an average of 2.60 people each year. This figure of 141.60% per annum means ELLIS LANE is one of the below average growth suburbs in NSW.
ELLIS LANE, 2570 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 $2,167 to $2,650.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in ELLIS LANE, 2570 should have seen some difference. While the latest census median annual household figure income is now $99,632, it was $80,251 back in 2006, which is a net increase of $19,380 Subtract from that the median mortgage repayment increase of $5,796 and a mortgage broker’s clients could be up to $13,584 better off each year even without factoring in mortgage rate cuts.