Ceisteanna ó na Comhaltaí Eile - Other Members’ Questions
Dail Éireann — 2026-04-22
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Micheál Martin (FF), Cork South-Central

I thank the Deputy for raising what is a very important issue for first-time buyers. The entire focus of this Government and the last Government is and was very much on alleviating pressures on first-time buyers but also enabling them to be in a position to buy houses at an affordable level.
The positive news is that as a result of measures we have taken, the numbers of first-time buyers drawing down mortgages have increased very significantly as a percentage of overall mortgages over the past five years. It is quite significant. The Deputy is correct in saying that 1% stamp duty on a house value up to €1 million is what is currently there. As he knows, there was a move in the taxation system towards simplification and to keep it very simple and straightforward. We brought in measures to prevent or disincentivise the investment funds and others from buying up blocks of new houses so as to make sure the supply of new houses would be there for individual buyers, and particularly first-time buyers. The Deputy is correct; in 2010, a decision was taken to streamline the stamp duty rate structure for both first-timers and those acquiring their second or subsequent residential property.
On what we have done in the last number of years, a suite of measures has been brought in, most notably the help-to-buy scheme, which is quite significant, the affordable purchase schemes and, of course, the first home scheme. They have been very effective in the market. The level of support under the help-to-buy scheme is the lesser of €30,000 or 10% of the purchase price of the new property or the amount of income tax and deposit interest retention tax, DIRT, paid in the four years before the application of the relief. That has proven to be a substantial support for first-time buyers. Then we have a whole range of other provisions, such as the local authority purchase and renovation loan. There are about 6,000 availing of the first home scheme. The vacant property refurbishment grants are also quite substantial in respect of vacant or derelict properties. I think the Minister is looking at extending the first home scheme.
In regard to the taxation treatment of it and the stamp duty, that obviously falls for a budgetary consideration. We will - and we will engage on this at Government level - give consideration to that, along with other supports for first-time buyers. I understand the motivation here. We want to enable young people to be in a position to buy houses and affordability is obviously a key factor in that decision. I would not rule anything out and it is certainly something we will give consideration to.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2026-04-22/debate/main
Retrieved: 2026-08-14T04:54:51+00:00
Sitting date: 2026-04-22