{"id":119842,"date":"2025-10-13T18:50:11","date_gmt":"2025-10-13T18:50:11","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/119842\/"},"modified":"2025-10-13T18:50:11","modified_gmt":"2025-10-13T18:50:11","slug":"more-than-4100-people-avail-of-first-home-scheme-to-buy-a-home-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/119842\/","title":{"rendered":"More than 4,100 people avail of First Home Scheme to buy a home \u2013 The Irish Times"},"content":{"rendered":"

Just under half of the nearly 8,400 people who have been approved for finance under the State\u2019s First Home Scheme<\/a> have completed the purchase of a property, according to a new update.<\/p>\n

The scheme, a joint venture between the State and the three main Irish retail banks \u2013 Bank of Ireland, AIB and PTSB \u2013 is aimed at helping first-time buyers bridge the gap between a mortgage, deposit and the price of a new home.<\/p>\n

In operation since July 2022, some 8,399 people had been approved for finance by the end of September. The scheme has provided \u20ac273 million in support to people who have bought or self-built their homes, the department said. <\/p>\n

Of the 8,399 approvals, some 4,118 buyers have purchased a home or built one since the initiative was launched.<\/p>\n

The average purchase price or build cost for those who have self-built stood at \u20ac387,000 at the end of the third quarter, with the scheme providing average supports of around \u20ac66,000 or 17 per cent of the total price.<\/p>\n

[\u00a0Three- and four-bed homes qualify for first-time-buyer schemes in Athy, from \u20ac390,000Opens in new window<\/a>\u00a0]<\/p>\n

An overwhelming 72 per cent of live approvals have been for buyers in Dublin, Cork, Kildare, Meath and Wicklow, with the remaining 28 per cent spread across 21 counties.<\/p>\n

Minister for Housing James Browne<\/a> said the First Home Scheme has been a \u201ckey part\u201d of the Government\u2019s efforts to address housing affordability<\/a>, which is why it wass extended until 2027 earlier this year. <\/p>\n

\u201cOur latest numbers show continued strong interest in the scheme,\u201d said First Home Scheme chief executive Michael Broderick. <\/p>\n

\u201cWe\u2019re continuing to enhance the scheme in response to customer demand and local market conditions so that we can help even more first-time buyers and other people who qualify for the scheme.\u201d<\/p>\n

The average price of a home in Ireland<\/a> is eight times higher than the average earnignse, according to a report published last week by property website MyHome.ie, which is owned by The Irish Times. <\/p>\n

The housing affordability gap is now at its widest since the 2008 financial crisis.<\/p>\n

\u201cBy this measure, affordability is now back at its most challenging level since the 2008\/2009 financial crisis,\u201d said the report\u2019s author, Bank of Ireland<\/a> chief economist Conall Mac Coille.<\/p>\n

Despite the affordability issues within the market, competition for properties remains \u201cfierce\u201d, MyHome.ie said, with homes typically selling for 8 per cent above the asking price.<\/p>\n","protected":false},"excerpt":{"rendered":"Just under half of the nearly 8,400 people who have been approved for finance under the State\u2019s First…\n","protected":false},"author":2,"featured_media":119843,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[624,625,79,8753,18,24079,8752,19,17,4770,37657],"class_list":{"0":"post-119842","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-aib","9":"tag-bank-of-ireland","10":"tag-business","11":"tag-department-of-housing-local-government-and-heritage","12":"tag-eire","13":"tag-first-home-scheme","14":"tag-housing-crisis","15":"tag-ie","16":"tag-ireland","17":"tag-james-browne","18":"tag-ptsb"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/119842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=119842"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/119842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/119843"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=119842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=119842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=119842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}