No matter where in NSW you want to buy a home, it's important that you get the right mortgage product to make sure that you pay as little as possible every month. The median house price in ULTIMO , 2007 is $1,794,000 this month which means that a mortgage for 80% of that value would be $1,435,200.
ULTIMO 2007 has seen a high level of growth in it’s population over the last five years.
ULTIMO 2007 homeowners are paying around 19.78% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay much 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 ULTIMO, 2007 should have seen some difference. While the latest census median annual household figure income is now $57,096, it was $48,770 back in 2006, which is a net increase of $8,325 Subtract from that the median mortgage repayment increase of $4,518 and a mortgage broker’s clients could be up to $3,807 better off each year even without factoring in mortgage rate cuts.