SCONE is one of the least expensive suburbs in NSW. Median home prices are $356,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $320,400 home loan.
Across the whole country SCONE,2337 is number 1191th fastest growing suburb by population growth, and 383th in State. Its population grew by 397 people over the last five years.
SCONE 2337 homeowners are paying around 46.00% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay more than the median average increase of NSW which is 29.63%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in SCONE, 2337 should have seen some difference. While the latest census median annual household figure income is now $57,668, it was $47,819 back in 2006, which is a net increase of $9,848 Subtract from that the median mortgage repayment increase of $6,624 and a mortgage broker’s clients could be up to $3,224 better off each year even without factoring in mortgage rate cuts.