Alan Kelly (Tipperary, Labour)
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745. To ask the Minister for Housing, Planning, and Local Government if the FHS property price ceilings are being reviewed; if they have changes since their inception; if they are likely to change in the future; and if he will make a statement on the matter. [56589/23]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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The First Home Scheme, which launched in July 2022, is a shared equity scheme, designed to help bridge the gap for eligible first-time buyers, eligible homebuyers, and now self-builders, between their deposit and mortgage, and the price of their new home (within price ceilings established across the country). Full details are available on the First Home Scheme website, www.firsthomescheme.ie.

The First Home Scheme Designated Activity Company (DAC) is fully responsible for the operation of the First Home Scheme on behalf of all shareholders, including price ceiling reviews. The price ceilings of the First Home Scheme are reflective of CSO data showing the median price paid for a new-build home by a first-time buyer by area.

At its launch, the First Home Scheme Designated Activity Company (DAC) announced it would review all price ceilings at 6-month intervals. Three reviews have taken place to date, with the most recent one conducted towards the end of last year, taking effect from 1 January 2024 and are available at the following link: www.firsthomescheme.ie/about-the- scheme/property-price-ceilings/.