1044. Deputy Willie O'Dea asked the Minister for Housing, Local Government and Heritage his plans to revise the first home scheme house value limits for Limerick; if he will consider allowing individuals to avail of the scheme to attain the 30% of the existing limit and fund the balance themselves; and if he will make a statement on the matter. [41998/26]

The 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). To note, an eligibility criteria of the Scheme is that the minimum equity share under the FHS must be 2.5% of the property purchase price/build cost, or €10,000, whichever is higher. 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 takes 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 in each local authority area.

At the end of December 2025, the First Home DAC published the outcome of its seventh scheduled review of the price ceilings that apply to qualifying homes and subsequently revised price ceilings. New price ceilings were agreed for 17 local authority areas. Limerick was one of these areas, with price ceilings now €425k for houses and €450k for apartments. The new price ceilings came into effect on 1 January 2026. The First Home Scheme DAC will continue to monitor the price ceilings, including in the Limerick area as part of the next review scheduled for June 2026.

More information on price-ceiling reviews is available at the following link: www.firsthomescheme.ie/about-the-scheme/property-price-ceilings/.