Cranbourne residents are among the top three areas in Victoria most desperate to buy their first home.
New data released by home builder Porter Davis showed 3977 was one of the most popular postcodes among would-be winners in a competition run by Porter Davis to help one lucky Victorian win a $170,000 deposit for their first home.
The competition, called the Rich Parents you never had, enabled one lucky entrant with the chance of building her own home.
She was Sophie Lemafa, a 30-year-old teacher’s aide who is currently renting in Saltwater Coast with her partner, two children aged two and ten and their elderly parents.
More than 15,000 people entered the competition, with the most entries coming from people from the 3030 postcode, which covers Cocoroc, Derrimut, Point Cook, Quandong, Werribee and Werribee South.
According to Australian Bureau of Statistics data, the average loan size for first home buyers rose from $7700 to $335400 in just one month.
Shaun Patterson, General Manager Sales and Marketing, Porter Davis said: “The reality of owning a home is becoming more and more distant for many potential first home buyers.”
“With our “Rich Parents you never had” competition Porter Davis is raising awareness of the struggles of first home buyers in Victoria and beyond,” he said.
“The huge response to the competition clearly demonstrates that home ownership is a distant dream for thousands of Victorians and that’s a problem that needs addressing urgently.”
The competition ran from open from 15 May to 30 June.
