If you were to buy a house locally at the current median price of $905,000 and had 10% deposit, then you would need a mortgage for $814,500. This is quite a large mortgage compared to state.
Between 2005 and 2011 the population of TERRIGAL, 2260 grew an average of 173.40 people each year. This figure of 2102.80% per annum means TERRIGAL is one of the fastest growing suburbs in NSW.
TERRIGAL 2260 homeowners are paying around 25.04% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay less 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 TERRIGAL, 2260 should have seen some difference. While the latest census median annual household figure income is now $68,796, it was $58,286 back in 2006, which is a net increase of $10,509 Subtract from that the median mortgage repayment increase of $5,208 and a mortgage broker’s clients could be up to $5,301 better off each year even without factoring in mortgage rate cuts.