Focus on new build delivery before First Home scheme expansion to second-hand homes, says Martin
The First Home Scheme is a shared equity scheme for first-time buyers that involves the government and participating banks paying up to 30% of the cost of the home in exchange for a stake in it, which can later be bought back by the home buyer.
Currently, the scheme is only available to first-time buyers who are purchasing a newly built property or building their own.
The programme for government includes a commitment to expand the scheme for first-time buyers of second hand homes, but the Taoiseach told
The Journal
'the exact timeline by the time it will happen is open, it is not decided yet'.
Tempering expectations that there could be an announcement on it in the upcoming budget, the Taoiseach said the government's focus right now is 'supply, supply, supply and new builds'.
'Do we concentrate on getting new builds first? I mean, it's on the agenda, but we have to get the new builds, the incentives have to be towards new builds. And the price of housing is increasing. So would it [expansion to second-hand homes] add more to that?' the Taoiseach said.
Advertisement
Previously,
Housing Minister James Browne told
The Journal
that concerns
had been raised that extending the First Home Scheme to second-hand homes could increase house prices.
The Taoiseach confirmed this was the case, stating 'some have'.
'That's a fact that we have to look at. But to be honest with you, the priority really is to try and get more new builds started, and to get the private sector building more new builds. The state is doing all the heavy lifting at the moment,' he said.
Martin said an increased the allocation of €700 million was put into housing this year, adding that he thinks more money will need to be pumped in to it by end of the year so as to allow for more funding to be allocated to housing schemes.
He reiterated his disappointment with last year's final housing delivery figures, stating that the 50,000 target per year has to be met due to the rising population.
However, he also questioned whether the target of 50,000 is high enough.
'Whether that deals with the population growth is still an open question,' he said, stating that the Irish population has gone up a third in two decades.
'That's massive. So housing supply is the key and that's why we have taken the measures we've taken so far… they're all building blocks,' said Martin.
Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article.
Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.
Learn More
Support The Journal

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

The Journal
20 minutes ago
- The Journal
Ursula von der Leyen to plead her case to MEPs ahead of a no-confidence vote
EUROPEAN COMMISSION PRESIDENT Ursula von der Leyen is set to travel to Strasbourg, France today to address MEPs before a no-confidence vote in the European Parliament on Thursday. If successful, the European Parliament would censure the European Commission and oust von der Leyen and her 26 commissioners. While the vote is unlikely to pass, it highlights a growing tension between politicians within Brussels. A motion for censure was agreed to and tabled by parliamentary group leaders on Thursday evening after it was proposed by right-wing MEP Gheorghe Pipera. Pipera proposed the no-confidence motion over a recently annulled commission decision that denied a journalist access to text messages between von der Leyen and Pfizer CEO Albert Bourla during the Covid-19 pandemic . The European Union's General Court sided with The New York Time's case in May, rejecting the commission's decision to deny access to the messages. It has been alleged that texts were key to securing vaccines during the pandemic. A debate will take place after 4pm Irish time in the European Parliament's hemicycle in Strasbourg today, where MEPs are meeting for their monthly plenary session to thrash out and vote on new legislation. Politico reports that von der Leyen plans to bring all 26 of her commission college members, including Ireland's Michael McGrath, with her while she addresses MEPs to show unity among the EU's executive ranks. Advertisement It is likely that her address will focus on the need for stability in the current political climate of tariffs from the US, the Russian invasion of Ukraine, Israel's war in Gaza and economic actions in the EU, such as single market and competitiveness reform. The vote comes at a critical point for the EU, which is facing devastating tariffs from the US this week, unless a deal is reached, as it attempts to refocus spending between member states' economies to become more self-sufficient. While von der Leyen launched policies around economic reform, military spending and climate issues with relative success, the German politician's support for Israel has caused a lasting tension between herself and support from Irish members. Fine Gael, a member of von der Leyen's European People's Party, has confirmed that it will be rejecting the motion for censure. Fianna Fáil MEPs, Labour's Aodhán Ó Ríordáin and independent Michael McNamara have said they will decide after today's debate. Sinn Féin MEPs and Independent Ireland's Ciaran Mullooly have said they will accept the censure motion on Thursday. Independent Luke Ming Flanagan, who is generally opposed to von der Leyen, has yet to indicate his voting intention. Irish MEPs in July last year largely opposed a second von der Leyen term over her stance on Israel's war in Gaza, among other issues. During her speech to MEPs before her reelection last year, she called for a ceasefire in Gaza for the first time . In the same speech, she vowed to be tougher on migration and boost Europe's defence spending. She also pledged to take action to increase the EU's housing delivery through widespread changes to economic policy and spending rules. Von der Leyen will today address members for 15 minutes before hearing from the five parliamentary group leaders, who each will be given five minutes to outline their group's position. As political groupings do not operate a strict whip system, individual members will also be given an opportunity to address the parliament for one minute each. MEPs will then vote on Thursday to accept or reject the motion for censure. With reporting by Jane Matthews Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal


Irish Daily Mirror
2 hours ago
- Irish Daily Mirror
New Balance 'most comfortable ever' runners now €64 off in huge sale
For many people across Ireland, a reliable pair of runners is a wardrobe staple. Whether you're walking the dog or running errands, comfortable, durable and stylish footwear is a must. New Balance is a popular choice for people in Ireland, and across the world, as they're known for producing high-quality trainers with a perfect blend of comfort and design. Now, Irish shoppers can score a fantastic deals on a range of popular pairs as New Balance has launched a massive end-of-season sale, with huge discounts of up to 50%. One particular pair of trainers, dubbed "the most comfortable shoes ever" by a number of customers, is down from €160 to €96 - a saving of €64. The unisex WRPD Runner Shoes come in seven different colours and in sizes 36 to 52, so there's something to suit everyone. For those prioritising comfort and seeking alternatives, the Skechers Women's Go Walk 5 Slip On Trainers are the number one best seller on Amazon and are currently priced from just €29.99. Alternatively the popular Asics Gel Challenger 14 Padel shoes are €120, but users can log into the Asics website to get them on sale. Shoppers are raving about these stylish New Balance WRPD runners, calling them "the most comfortable shoes they've ever owned". Lightweight, sleek and perfect for everyday wear, they've earned a glowing 4.7 out of 5 star rating for their all-day comfort - from long shifts on shop floors to walking around Disney. One person said: "I love this so much that I bought it twice (2 different colors). Thee MOST COMFORTABLE shoe ever and I own a large selection of gym shoes." Another added: "They are extremely comfortable, the best I ever had. As there are half size number i could find the perfect fit for mine." A third shared: "I really liked these sneakers, I only wear this brand and this model is the most comfortable. They look stylish. All my friends liked them, I will recommend and buy more." Someone else posted: "About to become a dad, so I thought some NB would do me good. I'd never owned a pair before. These were touted as the dad shoe for the new generation. I love them. They're so comfortable, I never want to take them off." Others gave examples of their all-day comfort, with one person saying: "I love them, they are very cool and comfortable. I used them all day at Disney and my feet felt great!" Another shared: "Love these shoes. I work in retail and my feet are comfortable all day." More reviews included comments like, "Would recommend this shoe 100%! Super comfortable and lightweight", "After reading reviews I thought I have to try. Best shoes ever" and "These sneakers are very light and comfortable. I recommend these to anyone. I also ordered them in gray and they go with everything!" However, despite what their name suggests, a couple of buyers did note they're better suited to casual wear than serious running. Others recommended sizing down. One person said: "Comfy to walk in but in no way could they be considered running shoes." Another added: "Fits a bit big so order half a size down. Really comfy." For more information or to buy, click here. Other unisex trainers available in the New Balance sale include the 530 Shoes (down from €120 to €84) and the 9060 Shoes down from €190 to €133. There are also kids options reduced including the 530 Shoes (down from €100 to €70), the 530 BUNGEE Shoes (down from €70 to €49), and the 327 NEW-B HOOK & LOOP Shoes (down from €60 to €42).


Irish Daily Mirror
2 hours ago
- Irish Daily Mirror
Barack Obama to appear on stage in Dublin at live event later this year
Former US president Barack Obama is to be interviewed live on stage for two events in London and Dublin later this year. The 63-year-old, who became the first black US president when he took office in 2009, will be interviewed by TV historian David Olusoga for the event at London's The O2 on September 24, before chatting with Irish journalist Fintan O'Toole at Dublin's 3Arena on September 26. An Evening With President Barack Obama will see the former president speak about his experiences in the role and the future for the US. Stuart Galbraith, chief executive of Kilimanjaro, and Alex Fane, chief executive of Fane Group, the groups organising the events, said in a joint statement: 'We are incredibly honoured to bring President Obama to the UK and Ireland for these truly special events. 'His message of unity and progress resonates deeply, and we anticipate an evening that will inspire and empower all who attend. 'We believe in providing exceptional experiences, and this event perfectly aligns with our mission to connect people with inspiring moments.' Tickets for the events go on sale at 10am on Thursday July 10, with 100 tickets set aside in each city for charitable organisations. Since his presidency ended, Mr Obama has signed a deal with Netflix, alongside his wife Michelle, to produce documentaries, documentary series, and features for the streaming platform under their Higher Ground Productions company. In 2022, he won the best narrator Emmy for his work on the Netflix documentary series Our Great National Parks, while he previously won Grammy awards for his audiobook reading of two of his memoirs, The Audacity Of Hope and Dreams From My Father. The Hawaii-born former president has also hosted a podcast called Renegades: Born In The USA in 2021, alongside singer Bruce Springsteen, with the pair also releasing a book based on the podcast. The Irish Mirror's Crime Writers Michael O'Toole and Paul Healy are writing a new weekly newsletter called Crime Ireland. Click here to sign up and get it delivered to your inbox every week