If you were to buy a house locally at the current median price of $2,305,000 and had 10% deposit, then you would need a mortgage for $2,074,500. This is a very large mortgage compared to state.
Australia’s total population growth over the last five years has been 12035.00 This means that PADDINGTON, 2021’s growth of 473 people is well above the mean for the country as a whole.
In NSW the median mortgage repayment has increased from $1,403 to $1,783 which is $-1,684 less than the median monthly home loan repayment in PADDINGTON, NSW.
The local median household income has increased by $438 which is a theoretical $45,084 available for a PADDINGTON mortgage broker to find a home loan.