The First Home Scheme, launched on 7 July 2022, supports eligible first-time buyers in purchasing new houses and apartments in the private market through the use of an equity share model. It also supports certain other purchasers, who have previously owned a home, under the 'Fresh Start' principle. The scheme is administered by the First Home Scheme Ireland DAC, which is responsible for the governance and operations of the scheme. Further information on the scheme, including eligibility requirements, is available on the official website at: www.firsthomescheme.ie.
A review of the scheme’s house price ceilings was undertaken by First Home DAC in late 2022 which resulted in the introdudcution of updated price ceilings from January 2023.
Separately, and in line with Action 1.2 of the Housing for All Action Plan Update (November 2022), I have requested that the First Home DAC consider the potential to expand the scheme to cover new self-build homes. This includes the governance, financial, and operational implications of such a change. I understand that this is under consideration by First Home at present.
