John Connolly (Galway West, Fianna Fail)
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271. To ask the Minister for Housing, Planning, and Local Government if consideration can be given to increasing the property price ceiling for houses in Galway city for which support can be sought from the first home scheme; and if he will make a statement on the matter. [35119/25]

James Browne (Wexford, 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 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. At its launch, the First Home Scheme Designated Activity Company (DAC) announced it would review all price ceilings at 6-month intervals. The DAC take into account a range of factors as part of these reviews, including the median price and volume of new builds purchased by first time buyers in each local authority area.

At the end of December 2024, the First Home DAC published the outcome of its scheduled 6-monthly review of the price ceilings that apply to qualifying homes and subsequently revised price ceilings in relation to 3 local authority areas. The revised price ceilings came into effect on 1 January 2025. The next 6 monthly review is due to be complete shortly.

More information on price-ceiling reviews is available at the following link: www.firsthomescheme.ie/about-the-scheme/property-price-ceilings/.