PROSPECT is one of the more expensive suburbs in NSW. Median home prices are $812,500 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $731,250 home loan.
PROSPECT 2148 has seen a high level of growth in it’s population over the last five years.
Mortgage brokers in PROSPECT, 2148 have seen that the median mortgage loan repayment has increased substantially between the last two census periods, changing from $1,713 to $2,082.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in PROSPECT, 2148 should have seen some difference. While the latest census median annual household figure income is now $82,888, it was $69,846 back in 2006, which is a net increase of $13,041 Subtract from that the median mortgage repayment increase of $4,422 and a mortgage broker’s clients could be up to $8,619 better off each year even without factoring in mortgage rate cuts.