If you were to buy a house locally at the current median price of $2,200,000 and had 10% deposit, then you would need a mortgage for $1,980,000. This is a very large mortgage compared to state.
NSW has seen an average of 3164.30% rowth over the last 5 years. This means that with well above the state figure, NARRABEEN, 2101 figure of 1038 represents a 7374.00% change.
NARRABEEN 2101 homeowners are paying around 19.05% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay much less than the median average increase of NSW which is 29.63%.
The local median household income has increased by $241 which is a theoretical $20,800 available for a NARRABEEN mortgage broker to find a home loan.