Growing number of first home scheme approvals in Cork

Almost 500 first-time buyers were approved under the first home scheme in Cork last year, the highest number since the scheme’s inception in 2022.

According to figures published by the first home scheme, a total of 9,008 approvals were made under the initiative since its launch, almost 3,000 of which were made across all 26 counties last year. Of the 2,961 applications approved in 2025, 473 of them pertained to buyers in Cork, representing 16% of the overall approvals.

This represents a consistent increase on the number of approvals made for Cork buyers under the scheme over its three-year lifespan, with 427 Cork buyers approved in 2024, 342 in 2023, and 112 in 2022.

The €740m scheme was launched with the aim of providing financial support to first-time homebuyers, facilitating them in purchasing or building a new home, which they could not otherwise do after combining their available mortgage and deposit.

Over the course of the scheme’s existence, 874 buyers in Cork have been approved, representing almost 10% of the overall approvals.

First home scheme CEO Michael Broderick, said the latest figures show that interest in the scheme “continues to grow significantly”.

“Almost 5,000 homes have been bought using the scheme to date around the country, using over €324m in support,” said Mr Broderick.

“The scheme saw almost 3,000 approvals in 2025, the highest annual figure since inception in 2022.

“This emphasises the value of the scheme at a time when demand for homes is particularly acute across Ireland.”

Under the scheme, house price ceilings that were set in 2025 across Cork were capped at €500,000 in Cork city, for both houses, including self-build houses, and apartments, and at €450,000 in Cork county, for both houses, including self-build houses, and apartments.

The minister for housing, local government and heritage, James Browne TD, said that the scheme is an “essential part of our approach” to combatting the housing crisis.

“I am very encouraged by the growing numbers availing of the scheme,” Mr Browne said.