If you were to buy a house locally at the current median price of $668,000 and had 10% deposit, then you would need a mortgage for $601,200. This is an average sized mortgage compared to state.
NARELLAN VALE, 2567 is number 820th in a list of the country’s fastest growing suburbs, and number 258th in State. It has had an average population growth of -20.00 over the period between the last two national censuses.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $2,167 which is $417 more every month. As a percentage rise, this makes NARELLAN VALE, 2567 the number 846th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in NARELLAN VALE, 2567 should have seen some difference. While the latest census median annual household figure income is now $91,936, it was $76,247 back in 2006, which is a net increase of $15,688 Subtract from that the median mortgage repayment increase of $5,004 and a mortgage broker’s clients could be up to $10,684 better off each year even without factoring in mortgage rate cuts.