Fianna Fáil Spokesperson on Housing, Séamus McGrath TD, has called for a review of the Government’s Help to Buy scheme to reflect current market conditions and the cost of delivering new homes.
Deputy McGrath said the scheme, introduced in 2017, needs to keep pace with significant increases in house prices and construction costs, particularly in urban areas such as Cork City.
“The Help to Buy scheme has been an essential support for first-time buyers, but it must keep pace with the real cost of delivering new homes. In many parts of the country, particularly in our cities and commuter belts, it is becoming increasingly difficult to purchase or build a new home within the current limits.”
The Cork South Central TD noted that rising construction costs, labour shortages and increased regulatory standards have all contributed to higher prices. As a result, many first-time buyers are finding themselves unable to access the scheme despite meeting all other eligibility criteria.
“The intention of Help to Buy is to bridge the affordability gap for working individuals and families. However, when the limits do not reflect market prices, that support becomes less effective.”
Deputy McGrath said the scheme should be adjusted to reflect prevailing market conditions, particularly in cities and high-demand commuter areas, so that it remains accessible to ordinary working households seeking to buy or build their first home.
He added that the scheme has delivered tangible benefits to date.
“We can't understate how important the Help to Buy scheme has been to people across Cork and across the country. It has supported thousands of individuals and families in purchasing or building their homes. It provides meaningful assistance to those entering the market, and it is important that it continues to do so.”
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