Dáil Éireann Debate, Tuesday - 28 November 2023
335. Deputy Cathal Crowe asked the Minister for Housing, Local Government and Heritage if he will raise the price ceiling for the first homes scheme in County Clare, which is currently set at €325,000, so as to entice further applications and drawdowns; and if he will make a statement on the matter. [52284/23]
View answerThe First Home Scheme, 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). Details are available on the First Home Scheme website, www.firsthomescheme.ie.
The First Home Scheme DAC is fully responsible for the operation of the First Home Scheme on behalf of all shareholders and, as such, is responsible for 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. Two reviews have taken place to date, with the next one due next month. 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.
