Dáil Éireann Debate, Wednesday - 18 January 2023
495. Deputy Fergus O'Dowd asked the Minister for Housing, Local Government and Heritage if he will respond to concerns raised by a person (details supplied); and if he will make a statement on the matter. [63693/22]
View answer496. Deputy Fergus O'Dowd asked the Minister for Housing, Local Government and Heritage if he will provide details on the much-anticipated review of the first-time home scheme ceiling prices, in particular for counties Louth and Meath, further to previous calls by this Deputy, given there are few to no new homes in the Louth area for less than the current €300,000 ceiling price; and if he will make a statement on the matter. [63694/22]
View answerI propose to take Questions Nos. 495 and 496 together.
The First Home Scheme, launched on 7 July 2022, supports first-time buyers in purchasing new houses and apartments in the private market through the use of an equity share model. Further information is available at: www.firsthomescheme.ie.
At its launch, it was announced by the First Home Scheme DAC that a review of price ceilings would be undertaken within 6 months. This review was conducted on the basis of the most up to date Residential Property Price Index data on the sales prices of new homes sold as published by the CSO, as well as a study of the prices of new homes available on the market, and also factored in the increase in construction costs.
That review is now complete, and the revised price ceilings have been in place since 1 January 2023. The ceiling for Louth has increased from €300,000 to €375,000 and is now equal with Meath which increased from €350,000 to €375,000.
