More than 6,500 property purchases have been supported by the First Home Scheme since it was established in 2022, new figures have revealed.
The number of people availing of the scheme is also on the rise with more than a third (37%) of total First Home Scheme drawdowns coming in the past year alone.
Figures for the three months to September 2026 show 654 drawdowns, bringing the total number of drawdowns approved by the First Home Scheme to 6,537 since its inception.
To date there have been over 12,000 approvals for the First Home Scheme, which was set up to provide funding to first-time buyers who, despite having a deposit and mortgage approval in place, still could not cover the cost of a new-build home. In exchange for providing funding, the scheme takes an equity stake of up to 30% in the home.
A joint venture between the State and three main banks, AIB (including EBS and Haven), Bank of Ireland and PTSB, it remains open to other authorised mortgage lenders in the Irish market.
The scheme has provided almost €440m in support to people who have bought or self-built their homes, while a total of over 27,000 potential buyers or self-builders have registered their interest in the scheme.
The average purchase price for homes purchased, or construction cost for homes built, using the scheme is about €395,000 - the average support being provided by the First Home Scheme in these cases is about €67,000, or 17% of the average purchase price.
67% of First Home Scheme users are also availing of the Help to Buy scheme, which had its limit increased by €5,000 to €35,000 in the recent Budget 2027.
The latest First Home Scheme figures show that 72% of live approvals have been for buyers in Dublin, Cork, Kildare, Meath and Wicklow, with the remaining 28% spread across the remaining 21 counties throughout Ireland.
Michael Broderick, the First Home Scheme chief executive, said the scheme has continued its rapid growth over the past year.
"Due in large part to the ongoing support from the State and participating lenders, almost four in ten of scheme drawdowns have come in the last year, which emphasises the increasing popularity of our offering,” he said.
“Similarly, approvals for the scheme have now topped 12,000, which is very positive news at a critical time for housing in Ireland.
"It is hugely encouraging that the scheme has provided almost €440m to date in support to people who have bought or self-built their homes, and we will look forward to continuing that support in the months and year ahead," the CEO added.
Minister for Housing, Local Government and Heritage James Browne said the continued success of the First Home Scheme demonstrates the real difference the supports are making, with thousands of purchasers benefiting each year.
"The recent Budget increase in the maximum Help to Buy support from €30,000 to €35,000 will provide important and timely assistance to prospective homeowners. I intend to use every support at our disposal to make home ownership more achievable for people," Mr Browne said.
"Behind every approval is a person or family gaining the security and stability of a permanent home, a place where they can put down roots, grow up and grow old. Keys in hands is the aim, a front door of your own is essential," he added.
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