House prices in PADDINGTON have seen a high level of growth over the last year, which means it's more important than ever to get a good NSW mortgage broker to help you choose the right home loan product.
PADDINGTON, 2021 is number 320th in a list of the country’s fastest growing suburbs, and number 96th in State. It has had an average population growth of 94.60 over the period between the last two national censuses.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in PADDINGTON, 2021 rank at number 99th in State or 461th 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 PADDINGTON, 2021 should have seen some difference. While the latest census median annual household figure income is now $119,080, it was $96,283 back in 2006, which is a net increase of $22,796 Subtract from that the median mortgage repayment increase of $10,404 and a mortgage broker’s clients could be up to $12,392 better off each year even without factoring in mortgage rate cuts.