REDFERN is one of the most expensive suburbs in NSW. Median home prices are $1,690,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $1,521,000 home loan.
NSW has seen an average of 3164.30% rowth over the last 5 years. This means that with well above the state figure, REDFERN, 2016 figure of 552 represents a 11934.00% change.
REDFERN, 2016 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 $2,016 to $2,522.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in REDFERN, 2016 should have seen some difference. While the latest census median annual household figure income is now $75,244, it was $56,310 back in 2006, which is a net increase of $18,933 Subtract from that the median mortgage repayment increase of $6,072 and a mortgage broker’s clients could be up to $12,861 better off each year even without factoring in mortgage rate cuts.