Ken O'Flynn (Cork North-Central, Independent Ireland Party)
Link to this: Individually | In context | Oireachtas source

662. To ask the Minister for Housing, Planning, and Local Government if he will review the help-to-buy and first home schemes in view of reports that many first-time buyers cannot afford new homes in developments such as (details supplied) even when availing of these supports; and if she will outline whether changes are planned to scheme thresholds or eligibility to address affordability challenges in new housing estates.; and if he will make a statement on the matter. [48133/25]

James Browne (Wexford, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

The First Home Scheme 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 2025, the First Home DAC published the outcome of its sixth scheduled review of the price ceilings that apply to qualifying homes and subsequently revised price ceilings. New price ceilings were agreed for 16 local authority areas, including for homes in the four Dublin local authority areas, and came into effect on 1 July 2025. The revised ceiling for Dublin is now €500,000. The First Home Scheme DAC will continue to monitor the price ceilings, including in the Dublin local authority areas as part of any future review.

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

In relation to The Help to Buy (HTB) this scheme is administered by the Revenue Commissioners and any development of the scheme comes under the remit of the Minister for Finance. Details of HTB can be found on the Revenue website, www.revenue.ie.