A total of 8,399 buyers have been approved for the First Home Scheme in all 26 counties of the state by the end of September, new figures show today.
4,118 homes already bought - or self-built by people building their own home - using the scheme, which was first set up in July 2022.
Today's figures also show that 794 buyers were approved and 425 homes were bought or built using scheme support in the third quarter of this year.
The €740m First Home Scheme provides financial support to homebuyers and facilitates them in purchasing a new home (or building their own home) that they could not otherwise do after combining their available mortgage and deposit.
By bridging the gap between the available mortgage, deposit and the price of the new home, the scheme makes the prospect of home ownership possible for many for the first time.
The scheme is a joint venture between the State and three banks, currently AIB (including subsidiaries EBS and Haven), Bank of Ireland and PTSB, and remains open to other authorised mortgage lenders in the Irish market to join the scheme.
The average purchase price for homes purchased, or build cost for homes built, using the scheme is €387,000 and the average support being provided by the First Home Scheme in these cases is about €66,000 - 17% of the average purchase price.
66% of First Home Scheme users are also availing of the Help to Buy scheme.
Today's figures show that 72% of live approvals have been for buyers in Dublin, Cork, Kildare, Meath and Wicklow, with the remaining 28% spread across the remaining 21 counties throughout Ireland.
The First Home Scheme's chief executive, Michael Broderick, said the scheme continues to be enchanced in response to customer demand and local market conditions.
"It's noteworthy that two-thirds of scheme users are combining it with the benefits available from the Help to Buy scheme. By combining both schemes, these buyers are able to access additional financial support, allowing them to assemble the necessary deposit while also bridging the funding gap between their mortgage and the price of the new home," he said.
"This dual approach places participants in a stronger position to achieve their goal of owning their own home," he added.
