Further funding for First Home Scheme will support first time buyers in Tipperary says TD
The extension of the First Home Scheme will help more people in Tipperary buy they’re own home, said a Fine Gael Deputy.
The extension of the First Home Scheme will help more people in Tipperary buy they’re own home, said a Fine Gael Deputy.
Fine Gael Deputy Michael Murphy has said an extra €30m in funding and the extension of the First Home Scheme will continue to support first time buyers in Tipperary.
The scheme, which bridges the gap between people’s spending power and the price of a new home has helped over 3,000 First Time Buyers to purchase homes since its introduction in 2022.
Cabinet today signed off an extra €30m in Exchequer funding with participating banks matching this funding and extending the scheme for another two years.
The overall funding for the scheme now stands at €740m.
It’s also expected that the additional €30m announced today will allow for approximately 1,200 further approvals to the scheme.
READ NEXT: ALERT: Recruitment drive underway for Tipperary graduates interested in town and city planning
Fine Gael Deputy Michael Murphy said: “The First Home Scheme has been hugely successful in responding to affordable housing needs in Tipperary and every county across the country to date.
“It has made a positive impact on the accessibility of home ownership and to housing delivery and today’s further €30m in Exchequer funding further bolsters the Government’s commitment to the scheme into the future.
“The scheme has improved access to home ownership as the State is bridging the gap between how much a person can afford and the cost of a home.
“There is huge interest and demand for this scheme, and I am urging people in Tipperary to ensure they are aware of how it can support them to get on the property ladder,” concluded Deputy Michael Murphy.
The First Home Scheme published its Q1 2025 report on 7 April, which notes that since the schemes launch to the end of Q1 2025 there have been:
- 15,356 people who have registered for the Scheme.
- 6,774 approvals (Eligibility Certs) to individuals or families to help them purchase.
- 3,323 drawdowns used to finance the purchase of new home.
The most recent report by the First Home Scheme shows continued strong interest in the scheme, with the number of homes purchased using the Scheme in the 12 months to Q1 2025 (1,806) 43% higher compared with the 12 months to Q1 2024 (1,260).