How much house cost under First Home Scheme and value of the support [Video]

Nearly 5,000 buyers have been approved for the First Home Scheme during the first two years of the government’s €480m shared equity housing fund.

A total of 659 homes were purchased under the scheme from January to June this year, more than double (+107%) the 319 homes bought during the same period in 2023.

Approximately 1,900 homes have been purchased and 4,850 buyers have been approved so far for the scheme, which is a joint venture between the State and the three retail banks.

Application numbers also continue to grow, rising 43% year-on-year in H1 from 1,329 to 1,894, and 610 applications are currently being processed.

In all, the scheme has provided over €126m to successful applicants to date.

The average price of homes purchased under First Home is €379,000, with an average of €66,000 in support being provided, equivalent to €17% of the average purchase price.

Two-thirds (67%) of successful applicants are also availing of the Help to Buy scheme, and three-quarters (75%) have bought …