Shared equity scheme not making homes more expensive argues Housing Minister

The Housing Minister has said there isn't evidence to suggest the Government's shared equity scheme is making homes more expensive.

The First Home Initiative has so far seen 750 applicants approved for an average of 71,000 euro in help to buy a new home.

However, just 4.6 million euro of the 400 million allocated has been drawn down to date.

The OECD has warned Government interventions have been fueling house prices in the short term - but Minister Darragh O'Brien says that isn't the case with the First Home Scheme.