NORWOOD is one of the most expensive suburbs in SA. Median home prices are $851,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $765,900 home loan.
Across the whole country NORWOOD,5067 is number 1099th fastest growing suburb by population growth, and 48th in State. Its population grew by 98 people over the last five years.
With a median housing loan repayment of $2,000 a month, NORWOOD , 5067 mortgage brokers are seeing mortgage holders paying $509 more than 2006.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in NORWOOD, 5067 should have seen some difference. While the latest census median annual household figure income is now $69,108, it was $55,109 back in 2006, which is a net increase of $13,998 Subtract from that the median mortgage repayment increase of $6,108 and a mortgage broker’s clients could be up to $7,890 better off each year even without factoring in mortgage rate cuts.