If you were to buy a house locally at the current median price of $1,600,000 and had 10% deposit, then you would need a mortgage for $1,440,000. This is a very large mortgage compared to state.
Between 2005 and 2011 the population of PYRMONT, 2009 grew an average of 105.80 people each year. This figure of 2303.60% per annum means PYRMONT is one of the fastest growing suburbs in NSW.
PYRMONT, 2009 has seen a substantial increase in the amount of mortgage repayment the median home owner makes every month. Between 2006 and 2011 mortgage brokers have seen the median housing loan repayment increase from $2,167 to $2,704.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in PYRMONT, 2009 should have seen some difference. While the latest census median annual household figure income is now $113,672, it was $90,251 back in 2006, which is a net increase of $23,420 Subtract from that the median mortgage repayment increase of $6,444 and a mortgage broker’s clients could be up to $16,976 better off each year even without factoring in mortgage rate cuts.