People using Help-to-Buy scheme earn more and buy bigger homes than other first-time buyers

The research highlights that a significant portion of users of the Help-to-Buy scheme could have met deposit requirements without assistance, raising concerns about its effectiveness. A third of recipients, as identified in a recent report, did not need the scheme to secure the necessary 10% deposit, suggesting that the program may be benefiting those who already have financial means.

Findings from Central Bank economists indicate that users of the Help-to-Buy scheme are purchasing homes that are more expensive than those bought by other first-time buyers. Properties supported by the scheme cost an average of €62,800 more in Dublin compared to non-users, and €84,000 more in other counties, with the higher costs linked to larger average home sizes.

Read at Irish Independent