Just one person in Mayo has used the First Home scheme to purchase a home in the county.
Chief Executive of the First Home scheme Michael Broderick delivered a presentation to Mayo County Council where he outlined that just one person has utilised the scheme in Mayo and only six applications from the county were made. The scheme was launched in July 2022 to assist people in bridging the gap between first-time buyers’ deposits and mortgages for a new house.
Mr Broderick said the take-up in Mayo was “disappointing” but acknowledged the lack of new homes being built in the county.
He said builders are being encouraged to build homes that fit the terms of the scheme.
“We have spoken to builders down here and the message is that if you build the right type of property and with the assistance of this scheme there will be a cohort of purchasers there.”
Councillors said the ceiling in Mayo is just too low at €325,000, particularly for anyone looking to purchase a home in areas like Westport.
“In the Westport area you wouldn’t buy a hen house for €200,000,” Cllr John O’Malley said.
“I am afraid that with the limit of €325,000, there is not much you would buy in the Westport area for that. There is a three-bedroom house beside me and they are asking €640,000. That is cuckoo,” he added.
Cllr O’Malley said young people are priced out of the local market by “outsiders with lots of money”.
“We really are up against it,” fellow Westport councillor Peter Flynn said, pointing to a Westport estate impacted by pyrite where home-owners are being quoted €425,000 to rebuild their properties.
Cllr Cyril Burke said the lack of new houses in Mayo will continue while financing issues for developers persist.
Mr Broderick said he would take on board the views of the councillors but evidence will be needed in order to raise the ceiling of the scheme in Mayo.
“If the evidence is there from agents and builders we can use that but I can’t just go back and say it should be €400,000,” he stated.
Councillors countered that they had already given him a number of examples and the council should also be able to furnish him with figures.
