First homebuyers hit Cranbourne

MORE first homebuyers are settling in Cranbourne than any other region in Victoria bar one.
State Treasurer John Brumby this week released new housing figures showing the number of first homebuyers in Victoria had hit its highest level in two years.
This is despite property prices continuing to boom.
Werribee was top of the list for First Home Bonus (FHB) applications this financial year with 830 applications, while Cranbourne closely followed with 793 applications.
The Caroline Springs and Deer Park region was third with 683 applications, Hoppers Crossing had 679 and Craigieburn 571.
“Applications for the FHB are mostly from homebuyers in and around the metropolitan growth corridors, with Werribee recording the highest number of applications, followed by the Cranbourne area,” Mr Brumby said.
He said an extension of the FHB was announced during last year’s State election campaign. “As a result, the $3000 FHB for buyers of existing properties has been extended until June 2009 and has this year been increased to $5000 for all first homebuyers of new homes,” he said.
“The first home is often the first significant investment Victorians make and the Bracks Government is there to help people enter the market.” Mr Brumby said there had been more than 105,000 FHB applications since its introduction in 2004, worth around $445 million to Victorian homeowners.
These results follow Australian Bureau of Statistics data that showed building approvals in Victoria totalled $1.34 billion in April.