Dáil Éireann Debate, Tuesday - 25 July 2023
578. Deputy Ivana Bacik asked the Minister for Housing, Local Government and Heritage when price ceiling limits on the first home scheme will next be reviewed; and if he will make a statement on the matter. [35969/23]
View answerThe 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. The Scheme is overseen and managed by the First Home Scheme Ireland Designated Activity Company (DAC) on behalf of scheme founders (the State and participating mortgage lenders). This body is responsible, amongst other things, for collating and issuing statistical information as it pertains to the scheme, as well as reviewing price ceilings.
At its launch just over a year ago, the First Home Scheme DAC confirmed it would undertake a review of price ceilings every six months. The first review of price ceilings was carried out in December 2022, with the changes from this review coming into effect on 1 January this year, at which time a number of price ceilings were revised. The second review was conducted at the end of June. I understand that the next review of price ceilings is expected at the end of 2023.
