McGreehan welcomes price ceiling hike for first-time buyers in Louth
More first-time buyers in Louth now eligible for support
Fianna Fáil TD for Louth, Erin McGreehan, has hailed the increase of price ceilings claiming that it will allow more first-time buyers avail of the First Home Scheme.
The increases in price ceilings have been extended to 16 counties and local authorities across the country, including Louth.
“I have had open dialogue with the Department on this issue for some time now. I am delighted to hear that it will be in place almost immediately. To see that measure being extended to my own constituency of Louth is fantastic, and it will be fantastic for constituents” she said.
“It is every young person’s dream to own or build their own home. The First Home Scheme is a brilliant measure introduced by the Government to make that dream a reality."
Some 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 government say the changes may also encourage the supply of additional new homes in areas with low stock of new homes currently.
The Scheme’s latest quarterly progress update was published in April and showed 6,774 buyers in all 26 counties have been approved by the Scheme.
3,323 buyers in 25 counties have already completed the purchase of or drawn down funds to self-build their home using the Scheme.
A total of 15,356 potential buyers have registered their interest in the Scheme, with over 1,769 new expressions of interest in Q1 2025.
Deputy McGreehan says the housing issue is one that is the number one priority for Fianna Fáil in Government, and this is another vital tool in the arsenal to scale up housing development.
She added: “The number one priority here is to allow more people qualify for the Scheme. Price ceilings in Louth have increased from €400,000 to €425,000 - a €25,000 increase. That is hugely positive and welcoming news for many First Time Buyers."
Concluding she stated: “The increase in price ceilings is a positive development. It will make more homes available for purchase with funding from the First Home Scheme and will bring more First-Time Buyers’ dream of owning their own home a reality."