SPRINGFIELD is one of the averagely priced suburbs in NSW. Median home prices are $600,000 so a 90% mortgage at level that will mean your mortgage broker will need to find you the best deal possible for a $540,000 home loan.
Between 2005 and 2011 the population of SPRINGFIELD, 2250 grew an average of 10.00 people each year. This figure of 801.60% per annum means SPRINGFIELD is one of the more rapidly growing suburbs in NSW.
When looking as just how much people in suburb pay on their mortgages, the median mortgage repayment is $1,842 which is $325 more every month. As a percentage rise, this makes SPRINGFIELD, 2250 the number 2272th 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 SPRINGFIELD, 2250 should have seen some difference. While the latest census median annual household figure income is now $67,080, it was $55,988 back in 2006, which is a net increase of $11,091 Subtract from that the median mortgage repayment increase of $3,900 and a mortgage broker’s clients could be up to $7,191 better off each year even without factoring in mortgage rate cuts.