Dáil Éireann Debate, Tuesday - 22 February 2022
66. Deputy Joe Carey asked the Minister for Finance the number of applications and the number of applications approved, respectively, under the help-to-buy scheme, by county, in each of the years from the introduction of the scheme to date; and if he will make a statement on the matter. [3057/22]
View answer76. Deputy Niamh Smyth asked the Minister for Finance the number of persons who have received assistance under help-to-buy scheme since the start of 2021, by county; if he has plans to review or extend the scheme; and if he will make a statement on the matter. [9687/22]
View answerI propose to take Questions Nos. 66 and 76 together.
With regard to the Deputies' questions, I am advised by Revenue that there were 26,025 Help-to-Buy (HTB) applications made in 2021.
Applications for HTB may be made on a provisional basis as first time buyers will want to have certainty as to their entitlements in advance of commencing the purchase of a property. An application will only progress to the final ‘claim’ stage when the applicant decides to purchase a property that is eligible for the scheme. In 2021, 7,555 applications moved to this stage and were approved.
I am also advised by Revenue that the available information by county is the number of claims approved. The table below provides a county breakdown of approved claims by year since the introduction of the HTB, based on the claim stage start date. When there are fewer than ten cases in a county, the exact number is not provided due to Revenue's obligation to protect taxpayer confidentiality.
Assistance under help-to-buy scheme
In relation to Deputy Carey's question concerning the future of the scheme, he will be aware that I previously announced that a formal review of the scheme would take place in 2022. The review will be fundamental in nature. By this I mean that all aspects will be examined including the design and operation of the scheme, its cost effectiveness and whether the policy aims of the measure could be better achieved by alternative means. In addition, it is likely that the review will look at the changed policy context of Help to Buy having regard to other initiatives in the same policy space which are committed to in the Housing for All strategy.
Issues related to the terms of reference and the procurement arrangements are being progressed by my Department at present and the matter is expected to be moved forward shortly.
