New figures from the First Home Scheme show that 1,336 buyers in 24 counties have been approved for the scheme in the first thee months of this year.
These buyers have received their eligibility certificates, which allows them to buy their chosen home.
The First Home Scheme is a €400m fund set up to help first-time buyers bridge the gap between their mortgage, deposit and the price of a new home as part of the Government's Housing for All strategy.
The scheme is a joint venture between the State and three banks - AIB (including subsidiaries EBS and Haven), Bank of Ireland and Permanent TSB.
It also remains open to other authorised mortgage lenders in the Irish market.
Today's quarterly update shows continued strong interest in the scheme since its launch last July.
Its eligibility was extended from January 1, following the widening of the criteria for homes in 30 of the country's 31 local authority areas, with the limit for eligible homes increasing by up to €75,000.
The new price ceilings include houses with prices of up to €475,000 in the scheme, depending on their location.
Apartments with a purchase price of up to €500,000 are also eligible for the scheme, also depending on their location.
Today's figures also show that 257 buyers have already completed the purchase of their home using the scheme, while a further 291 applications are currently being processed.
A total of 3,556 potential buyers have registered their interest in the scheme, with over 1,000 new expressions of interest received in the first three months of the year.
The average purchase price for completed purchases is €368,000 and the average support being provided by First Home in these cases is €71,000 - or 19% of the average purchase price.
82% of live approvals have been for buyers in Dublin, Cork, Kildare, Meath and Wicklow, with the remaining 18% spread across 19 counties throughout the country.
First Home's chief executive Michael Broderick said the first quarter of 2023 was the busiest quarter to date in terms of buyers being approved for the scheme and getting their eligibility certs.
"The scheme is making a big difference for the people who are using it and we expect to see continued strong growth in the quarters ahead," he said.
"We're particularly pleased at the wide geographic spread we're seeing, which shows that the scheme is working for people throughout Ireland and is at its most effective in the counties where first-time buyer demand is strongest," he added.
Minister for Housing, Local Government and Heritage Darragh O’Brien said the scheme has already helped hundreds of people to buy their first home.
"The changes to the scheme criteria that were implemented in January are having a clear effect, allowing thousands more buyers to qualify for the Scheme and use it to help them get the home they want," the Minister said.
"The scheme is all about bridging the affordability gap so that people can buy a home even if their combined mortgage and deposit falls short of the purchase price," he said.
"It’s working well in achieving that and I would encourage first-time buyers to consider it as one of the key supports that’s available under Housing for All," he added.
