Absolutely correct, but many many people are confused when it is said the "proper" way! "Hoeburn" is also OK.
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On a separate note, regarding the posts upthread about Marylebone, I can assure you on really quite good authority (well, the local authority, or at least employees thereof, as well as accepted custom of at least one local university campus) that it should be "Marry-le-bone" not "Marley-bone".
The area is named after the church of St Mary le Bourne, St Mary and the Bourne (a local river) being two entirely separate entities, and as such the two parts of the word should be kept as distinct as possible.
I can give what I consider to be an even more authoritative validation of the Marylebone pronunciation. There has been a magisterial series of publications over decades called 'A Survey of London', latterly published through Yale University Press, and a contributor to these has been a gentleman eminent in his field, now around 90 years of age, whom I have known for the last 30 years as a customer of my bookshop, with him dividing his time between Cornwall and Central London. He has a complete collection of the Survey, and the last in the series, something like the 115th, is to be published in the autumn, this being 'St. Marylebone'. Now, he is a creature of habit and, when in Penzance, he buys his copy of the Times at a certain shop at a certain time every day, so I made sure today I happened to be in the shop at the same time. I made polite conversation and brought up the subject of the Survey, which caused his eyes to light up and he said quite distinctly 'Saint Marry-le-bone' which was my cue for gently enquiring whether there might be another approved way of pronouncing the word. He paused, looked intently at me and then, as if addressing a madman, said 'not as far as I'm concerned', and that, for me, was QED multiplied.
On a familial level, I believe my mother, born in Wimpole Street in the First World War, and father were married in St Marylebone too, during the Second World War. So, let the Marley-bones be banished!