Barry Heneghan (Dublin Bay North, Independent)
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5. To ask the Minister for Finance if he will provide an update on the review of the help to buy scheme; if consideration is being given to adjusting the eligibility criteria or value thresholds in response to recent changes in house prices and inflation; and if he will make a statement on the matter. [28246/25]

Barry Heneghan (Dublin Bay North, Independent)
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My question concerns the help to buy scheme and its future direction. The programme for Government commits to both retaining and revising the scheme. Given the significant rise in house prices, particularly in north Dublin, has consideration been given to adjusting the eligibility criteria or value threshold to ensure the scheme remains relevant and accessible to first-time buyers of my generation?

Paschal Donohoe (Dublin Central, Fine Gael)
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I thank the Deputy for raising this. The help to buy scheme is a plan to assist first time purchasers with the deposit if they need to buy or build a new house of apartment. It also has as an aim to encourage additional supply of new homes by supporting demand. The Deputy knows what the help to buy scheme is so I will not go into the detail of it.

The scheme has supported almost 55,000 individuals or couples. The estimated value of it has been €1.2 billion and the scheme has now been extended until 2030. It is reviewed in accordance with the Department of Finance’s tax expenditure guidelines on a regular basis and any revision to the scheme would have to be considered as part of the annual budget and finance Bill process. I look forward to hearing the Deputy's view on the scheme.

I reiterate my thinking on the future of the scheme. I do not believe the scheme should be extended to second hand homes. I appreciate this can sometimes be a difficult argument to make but a criticism and risk of a scheme like this is that we have to avoid adding to the cost of new homes being purchased by home purchasers. There is a risk that if the scheme was made available for homes that have already been built the money we are making available at the moment would simply go into making the homes more expensive as opposed to what I believe it does overall, which is to help with the supply of homes within a certain price bracket. Beyond that, I look forward to hearing the Deputy's views on the future of the scheme.

Barry Heneghan (Dublin Bay North, Independent)
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Gabhaim buíochas leis an Aire. I welcome the Minister said that. I have met developers in north Dublin and across the country and they told me that the Housing Finance Agency was meeting just once a month. Completed buildings are sitting empty in the middle of a housing crisis, yet there does not seem to be a sense of urgency in the Department. Housing is not the Minister's Department, but as Minister for Finance, will he be increasing the number of times the agency meets in order to show people that we are serious about tackling this crisis and show investors that Ireland can be trusted?

In Dublin Bay North, I regularly hear from first-time buyers who are doing their best to secure a home close to work. However, many new builds in the area now fall out of the existing eligibility cap, making this scheme inaccessible to those it was designed to support. These people are not high earners or looking for luxury properties. They are ordinary people being priced out by rising market values. Will there be a threshold change to the scheme?

Paschal Donohoe (Dublin Central, Fine Gael)
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The issue of the threshold change is a matter that will be considered budget to budget. I caution that any changes could affect the price of a home, particularly at a point when we still have so much we need to do to increase supply.

Regarding the important point that the Deputy made about the Housing Finance Agency meeting, I believe that refers to meetings of the board. The Deputy is concerned that, by only meeting once a month, it could be delaying important decisions. I will follow up on that. It is appropriate that a board meet approximately once a month, but that should not delay important decisions at a time when we need all the finance we can get to build more homes. I will raise that matter.

Barry Heneghan (Dublin Bay North, Independent)
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I thank the Minister for his answer. It is exactly that - the board is meeting once a month. Developers and investors are seeing this. It is holding developers up and adding many costs for them, which they do not like and discourages the building of homes.

The scheme is valuable and it is right that it is being retained. I look forward to the budget and seeing what this Government will do. Revision is needed to ensure that the scheme reflects today's market. This includes updating the price gap and ensuring that the rules are clear and consistent. This is an opportunity to make a good scheme more responsive and fair for today's buyers, particularly for the buyers of north Dublin.

Paschal Donohoe (Dublin Central, Fine Gael)
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I am familiar with the needs of home buyers on the northside of Dublin, including within the Deputy's constituency. We will give consideration to this issue as part of the work we do for the budget. I emphasise that, at a time in which supply is not being built as fast as the Deputy or I want, we need to be careful that we not make a change to a scheme that could inadvertently add to the cost of homes.

We will take the Deputy's points on board and consider the issue he raised. In the context of our exchange, I will examine the issue of the frequency of board meetings to ensure that it is not creating undue delay in decisions that lead to homes being built.