There have been less than 40 applications under the Help To Buy Scheme across Sligo, Leitrim and Donegal.
Less than 40 first time buyers have applied for the Help to Buy Scheme in Counties Sligo, Leitrim and Donegal since it opened in January this year.
Fianna Fáil TD for Sligo-Leitrim Marc MacSharry says the scheme is not working for first time buyers in the North West because practically no new houses have been built in the region over the past five years.
“This scheme is falling far short of the promises that were made by Government to first time buyers. The fact that so few applications have been made highlights serious deficiencies with the scheme itself. The real problem here is supply – first time buyers can only apply for the scheme if they are buying a new build, but here in the North West there simply aren’t enough new homes on the market," he told the www.leitrimobserver.ie.
“The Government has consistently failed to deal with the supply issue, and until this problem is effectively tackled this problem will continue to grow. While houses are being built in the capital and the commuter counties, there is virtually no construction happening here in the North West."
Deputy MacSharry said that these figures are further proof that the North West is being left behind.
"The restrictions of this scheme mean that genuine first time buyers are being excluded because there is not adequate housing stock in the region to allow them to qualify for the support," he said.
“The Government cannot ignore the needs of first time buyers outside of Dublin – and Ministers Noonan and Coveney need to devise a plan that caters for all first time buyers, not just those who live in large commuter towns or cities."