Largest ever housing budget will help build more homes in Mayo – Dillon
Budget 2025 contains vital measures to ensure everyone can own their own home.
Minister of State within the Department of Housing, Alan Dillon, said: “Budget 2025 contains the largest ever housing budget in the history of the country and will support those in Mayo seeking to purchase their own home and build their futures.
"It is being boosted from the sale of AIB shares which will go to the Land Development Agency.
‘This is allowing for the funding of 6,400 new affordable and cost rental homes under the First Home Scheme.
"The Help to Buy scheme is being extended until 2029, providing €30,000 to first time buyers in Mayo and across the country.”
Minister Dillon said the Budget measures follow from the announcement last week that Mayo County Council is currently assessing a large affordable housing development for Castlebar which will provide 52 affordable homes of mix unit type.
“Since its introduction, the First Home Scheme has supported 5,400 buyers, and the Help to Buy initiative has assisted 50,000 individuals and families to get the keys to their first time. I am delighted that the inheritance tax threshold will be increased to €400,000, a significant win for middle income families.
‘Renters in Mayo will be supported with an increased renter’s tax credit of €1,000 for individuals, and €2,000 for couples, a €250 increase per person which will support people saving to buy their own homes.
"We are committed to helping the most vulnerable in society with €100m allocated to adapt the homes of older people and people with a disability.
‘The increased stamp duty on the bulk purchasing of homes by investors from 10% to 15% will protect homes for young couples.
"A €303m budget for homeless services, and €92m to retrofit 2500 social homes in Budget will also have a major impact for people in Mayo,” said Minister Dillon.
“Recent commencement figures, mortgage approval rates, and other metrics all highlight the significant progress being made on housing across the country.
"Throughout Mayo, I have witnessed this progress, and I will continue to ensure that home ownership is a reality for all,” Minister Dillon added.