153. Deputy James O'Connor asked the Minister for Housing, Local Government and Heritage if he will outline his plans to expand the help-to-buy and the first home schemes for young first time homeowners new into the market; and if he will make a statement on the matter. [48229/26]

The First Home Scheme is a demand led scheme, supporting all first-time buyers, self-builders and fresh start applicants - irrespective of age - to bridge the gap between their mortgage capacity and deposit and the price of the new home, within price ceilings established across the Country.

The First Home Scheme Designated Activity Company (DAC) is fully responsible for the operation of the First Home Scheme on behalf of all shareholders – who are the State and participating pillar banks.

In order to minimise the risk of price distortions in the First-Time Buyer market, the First Home Scheme introduced the concept of Local Authority Price Ceilings from the outset of the Scheme. At its launch, the DAC announced it would review all price ceilings at 6-month intervals. These reviews take into account a range of factors, including the median price and volume of new builds purchased by first time buyers in each local authority area including at sub county level where relevant. These reviews allow the Scheme to remain adaptive to local market conditions, while also providing support to first time buyers and promoting additional housing supply while mitigating local price distortions.

At the end of December 2025, the 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 and these ceilings came into effect on 1 January 2026. The First Home Scheme DAC will continue to monitor the price ceilings as part of the next review in June 2026.

Furthermore, the Programme for Government contains a commitment to extend the First Home Scheme to 2030. In May 2025, Cabinet agreed to an additional commitment of the First Home Scheme extending the Scheme to June 2027, which serves as a phased approach to this commitment. The new housing plan Delivering Homes, Building Communities 2025-2030 also contains an action to engage with the pillar banks to extend the Scheme to 2030.

Please note, the Help to Buy incentive is an initiative of Revenue and the Department of Finance, and does not come under the remit of my Department. Revenue and the Department of Finance should be contacted in relation to that scheme’s operation.