Young babies lost in lobbies (7)

I believe the answer is:

yabbies

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'lobbies' is the definition.
I don't know anything about this answer so I can't tell whether this works.

'young babies lost in' is the wordplay.
'young' becomes 'y' ().
'lost' indicates anagramming the letters.
'in' is an insertion indicator.
'babies' is an anagram of 'abbies'.
'y' going into 'abbies' is 'YABBIES'.

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I've seen this clue in the Sydney Morning Herald.

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