Tom Brabazon (Dublin Bay North, Fianna Fail)
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145. To ask the Minister for Housing, Planning, and Local Government if his Department is considering increasing the €475,000 cap on new builds in Dublin under the first home scheme. [36551/25]

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 June, the First Home Scheme 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 16 local authority areas. This includes an increase in the ceilings in the four Dublin Local Authorities from €475,000 to €500,000. The revised price ceilings came into effect on 1 July. The next 6 monthly review will take place in December 2025.

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