As part of the government’s Housing for All strategy, The First Home Scheme was set up last year with a €400m war chest to get first-time buyers on the housing ladder.

Its first annual progress report is out this week and 2000 buyers have been approved with 500 of them already moved into their new place.

The scheme - like all things in housing - faces criticism that the government may in fact be pushing up house prices with this subsidy scheme

Michael Broderick, Chief executive of First Home