Victorian bonus boosts first home-buyers

The Victorian Government's new $5,000 bonus for first-home buyers may be taking effect with one lender reporting a surge in home loan applications over the past two weeks. Wizard Home Loans says enquiries from first-home buyers have risen 50 per cent since the bonus was announced a fortnight ago. Wizard said the bonus has given first-home buyers a dose of optimism as research showed that saving for a deposit was the biggest barrier for first-timers.