If you were to buy a house locally at the current median price of $605,000 and had 10% deposit, then you would need a mortgage for $544,500. This is an average sized mortgage compared to state.
The average suburb population growth in NSW has been 3164.30% since 2006, so the 5402.00% population change in RUSE 2560 is well above average.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,862 which is $454 more every month. As a percentage rise, this makes RUSE, 2560 the number 2230th on a list of suburbs in Australia ranked by percentage mortgage payment increase across the 5 years between the 2006 and the 2011 census.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in RUSE, 2560 should have seen some difference. While the latest census median annual household figure income is now $76,960, it was $64,760 back in 2006, which is a net increase of $12,199 Subtract from that the median mortgage repayment increase of $5,448 and a mortgage broker’s clients could be up to $6,751 better off each year even without factoring in mortgage rate cuts.