First-homebuyers flock to Canning Vale

as posted here

Raquel de Brito

October 20, 2009 12:00pm

IT'S TOPS: Canning Vale has proven the most popular suburb with first-homebuyers.

CANNING Vale has proven the most popular suburb for first-homebuyers taking advantage of the Federal Government's First Home Owners Boost.

The latest statistics from the Department of Treasury and Finance show 183 first-homebuyers equipped with the FHOB bought in the southern suburb during the September quarter.

The boost, coupled with the State Government's existing First Home Owners Grant of $7000, brought government assistance to $21,000 for new dwellings and $14,000 for established.

The FHOB boost was slashed by half at the end of September and will end completely on December 30.

More than 20,0000 WA first-homebuyers were able to step onto the property ladder thanks to the Federal Government's First Home Owners Boost.

The second most popular area for first-home buyers was Baldivis, at 157.

Ellenbrook was also a hot spot, with 116 first-home buyers choosing to use the FHOB in the north-eastern suburb.

“During the September quarter we saw a pick-up in those receiving the First Home Owners Grant,” Urban

Development Institute of Australia chief executive Debra Goostrey said.

“This is a reflection of the final grab for the full Boost that was available until September 30.”

“The number of buyers receiving the grant had dipped in August, most likely due to the delay in the government announcing whether the Boost would continue,” Ms Goostrey said.

“We then see the obvious pick-up into September as people scramble to make the most of the extra cash available.”

Other suburbs popular with the first-homebuyers included Butler, Aubin Grove, Gosnells and Banksia Grove.

“The common theme among these areas is they are all relatively outer suburbs of Perth,” Ms Goostrey said.

“Maylands is the only inner-city suburb featuring in the Top 10.”

“This means buyers are seeing value in the outer areas of Perth where they can purchase a larger home at a more affordable price,” Ms Goostrey said.

She said UDIA expected there would be a lull in first-homebuyer activity during October/ November and possibly a slight pick-up in December before the last of the boost is cut.

as posted here