If you were to buy a house locally at the current median price of $1,650,000 and had 10% deposit, then you would need a mortgage for $1,485,000. This is a very large mortgage compared to state.
NSW has seen an average of 3164.30% rowth over the last 5 years. This means that with pretty equal to the state figure, THE HILL, 2300 figure of -385 represents a 1616.00% change.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in THE HILL, 2300 rank at number 1363th in State or 4954th nationally when listed in order of median monthly mortgage payment.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in THE HILL, 2300 should have seen some difference. While the latest census median annual household figure income is now $75,868, it was $55,785 back in 2006, which is a net increase of $20,082 Subtract from that the median mortgage repayment increase of $3,516 and a mortgage broker’s clients could be up to $16,566 better off each year even without factoring in mortgage rate cuts.