KATOOMBA is one of the averagely priced suburbs in NSW. Median home prices are $600,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $540,000 home loan.
Between 2005 and 2011 the population of KATOOMBA, 2780 grew an average of 78.40 people each year. This figure of 1583.20% per annum means KATOOMBA is one of the fastest growing suburbs in NSW.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in KATOOMBA, 2780 rank at number 1288th in State or 4777th nationally when listed in order of median monthly mortgage payment.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in KATOOMBA, 2780 should have seen some difference. While the latest census median annual household figure income is now $41,912, it was $34,694 back in 2006, which is a net increase of $7,217 Subtract from that the median mortgage repayment increase of $3,696 and a mortgage broker’s clients could be up to $3,521 better off each year even without factoring in mortgage rate cuts.