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Tánaiste and Minister for Finance, Simon Harris TD, has welcomed the latest figures that show theHelp to Buy Schemehas now supported almost 49,000 households 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 that48,878 Help to Buy claimshave 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.

“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.

The Help to Buy (HTB) incentive, is a tax-based scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. It also aims to encourage additional supply of new houses by supporting demand.

HTB provides a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the legislation.

The level of support available to first time buyers under the HTB scheme, is whichever is the lesser of:

● 10 per cent of the purchase price of the new property; or

● the amount of Income Tax and DIRT paid in the four years before application for the relief.