Buyers in Melbourne’s outer suburbs are the main recipients of the First Home Owners Grant according to data from the State Government and except for one suburb each has a median price of a house under $350,000.

The fact that the Melbourne median is $451,000 underscores that most first home buyers look for value when they pursue the great Australian dream.

In the eight years that the First Home Owners grant has been on offer the postcode with the highest number of recipients is 3030 which covers Werribee and surrounds. Over eight years 6,313 first home owners have received grants. The median price of house in Werribee is $241,000.

Second on the list is the postcode of 3977 which covers Cranbourne and surrounds where there has been 5,664 successful applications for grants. The median price of house in Cranbourne is $255,000.

Third on the list is Caroline Springs and Deer Park, also in the west where there has been 5,465 grants in postcode 3023. The median price of a house in Caroline Springs is $327,000 and $265,000 in Deer Park.

The popularity of the western suburbs for first home buyers is further proven by the fact that fourth on the list is Hoppers Crossing, postcode 3029 where 5,016 first home buyers have received grants. The median price of Hoppers Crossing is $254,000.

Other suburbs in the top 10 in are Craigieburn, Narree Warren, Sydenham, St Albans, Packenham and Dandenong.

Interestingly Ballarat and surrounds is ninth on the list with 3203 recipients receiving a grant over the last eight years. This highlights that the grant provide assistance to both first home buyers in both regional and metropolitan Victoria.

If interested in learning more about this update please contact me today!

As Domain Property Advocates continues to grow I will continue to provide superior service to those choosing to use property as their investment. It is an important choice of who to choose as the one responsible to look after your property. You can be sure that Domain Property Advocates will always strive to be the best.

 

This entry was posted on Monday, September 1st, 2008 at 2:53 am and is filed under Buying Property. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.