Almost 7,500 Avail of Help to Buy Scheme in Cork

Almost 7,500 individuals, couples and families in Cork were enabled to buy or build their first home through support from the Help to Buy Scheme, Cork North West Fine Gael TD John Paul O’Shea has said.

The latest figures show that the Help to Buy Scheme has now supported almost 49,000 households around the country since its introduction.

The scheme was introduced in 2020 to assist first-time buyers to purchase or build a new home.

The latest data shows that 48,878 Help to Buy claims have been approved up until the end of July, supporting first-time buyers across every county in Ireland. Almost 38,000 claims relate to the purchase of newly built homes, while almost 11,000 supported self-build projects.

The Help to Buy Scheme provides eligible first-time buyers with a refund of Income Tax and DIRT paid over the previous four years, worth up to €30,000, helping them meet the deposit required to purchase or build a new home.

Welcoming the figures, Tánaiste and Minister for Finance Simon Harris said “Owning a home remains one of the biggest ambitions for many individuals and families. Our job is to make that ambition a reality. These latest figures show that almost 49,000 households have now been supported through Help to Buy.

“For thousands of first-time buyers, this is a scheme that has helped to bridge the gap to home ownership by making it easier to secure the deposit required to buy or build. For so many families, it has made the difference between continuing to rent and getting the keys to their own home. We know that there is still so much more to do in relation to housing.

“That’s why the Government is determined to increase housing supply while continuing to back practical supports like Help to Buy that make a real difference to people’s lives. 

Fine Gael TD for Cork North West John Paul O’Shea said “We are seeing real progress now in housing delivery in Cork, and it’s vital that everyone is aware of all supports available to them. The Help to Buy scheme can be a huge boost to assisting first time buyers getting that crucial deposit for their home and I look forward to its continuation so we can see even more people in Cork availing of it and getting the keys to their own front doors.”