Senator Davitt welcomes extension of First Home Scheme
Senator Aidan Davitt has welcomed a review of the First Home Scheme price ceilings that will result in an increase of up to €75,000 for aspiring homeowners in Westmeath.
The recently announced changes to the scheme will mean thousands of additional first-time buyers across the country will now qualify for the scheme. These people would have been ineligible for the scheme until now if the price of their chosen home was above the price ceiling for their local authority area. The new price ceilings will include houses with prices of up to €475,000 in the scheme, depending on their location. The review also means that every new house valued at €325,00 or less will be eligible for the scheme, irrespective of its location in Ireland.
Speaking this week, Senator Davitt said that he was “delighted to see these increases in the price ceilings for the First Home Scheme".
"The scheme is succeeding since its inception in helping people buy their own home. Over 750 approvals have been granted for the Scheme so far and its having a real impact in helping people buy their own home. Fianna Fáil are committed to home ownership and this scheme is one of many schemes launched by this Government to help people buy their first home.
"The new price ceilings, which aim to ensure the scheme can benefit as many people as possible without causing distortion in local housing markets, took effect from January 1. First Home Scheme will continue to review the ceilings on a twice-yearly basis, with its next review in mid-2023. They are reviewed regularly and changed if needed. The limits were reviewed in December and increased from January 1."
Local Authority Area Price Limits
Cork City, Dublin City, Dún Laoghaire-Rathdown, Fingal, South Dublin
€475,000 for houses and €500,000 for apartments
Galway City
€425,000 for houses and €450,000 for apartments
Limerick City and County
€375,000 for houses and €450,000 for apartments
Waterford City and County
€350,000 for houses and €450,000 for apartments
Co Wicklow
€475,000 for all properties
Co Cork, Co Kildare
€425,000 for all properties
Co Galway, Co Kilkenny, Co Louth, Co Meath, Co Westmeath
€375,000 for all properties
Co Laois
€350,000 for all properties
Co Carlow, Co Cavan, Co Clare, Co Donegal, Co Kerry, Co Leitrim, Co Longford, Co Mayo, Co Monaghan, Co Offaly, Co Roscommon, Co Sligo, Co Tipperary, Co Wexford
€325,000 for all properties