Dáil Éireann Debate, Tuesday - 1 April 2025
489. Deputy Cian O'Callaghan asked the Minister for Housing, Local Government and Heritage if he is considering revising the price ceiling for the first home scheme in Dublin; and if he will make a statement on the matter. [15668/25]
Amharc ar fhreagraThe First Home Scheme, which launched in July 2022, is a shared equity scheme, designed to help bridge the gap for eligible first-time buyers, eligible homebuyers, and self-builders, between their deposit and mortgage, and the price of their new home (within price ceilings established across the country). Full details are available on the First Home Scheme website, www.firsthomescheme.ie.
The First Home Scheme Designated Activity Company (DAC) is fully responsible for the operation of the First Home Scheme on behalf of all shareholders, including 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. The DAC take into account a range of factors as part of these reviews, including the median price and volume of new builds purchased by first time buyers throughout local authority areas.
At the end of December 2024, the First Home DAC published the outcome of the fifth of its scheduled 6-monthly review of the price ceilings that apply to qualifying homes and subsequently revised price ceilings in relation to 3 local authority areas. The revised price ceilings came into effect on 1 January 2025.
More information on price-ceiling reviews is available at the following link: https://www.firsthomescheme.ie/about-the-scheme/property-price-ceilings/.
