Darragh O'Brien (Dublin Fingal, Fianna Fail)
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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). 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. At the end of December 2023, the First Home DAC published the outcome of the third of its scheduled 6-monthly review of the price ceilings that apply to qualifying homes and subsequently revised price ceilings in relation to 6 local authority areas. The revised price ceilings came into effect 1st January 2024. As a result Limerick City and County price ceiling for new build homes increased from €375,000 to €400,000.

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