Council expects plenty of applications for new affordable homes scheme in Cork

A flood of first-time buyer applications is expected for a new affordable housing scheme in north Cork, where homes will be offered for sale at around 20% below the market rate.

Cork County Council will begin accepting applications at 12pm on Monday, June 24, for the homes that have been built for it by the O’Flynn Group in Mallow as part of a project being advanced by the Land Development Agency on the council’s website.

Three- and four-bedroom houses at Clonmore, just north east of the town centre, will be available under the scheme.

A minimum of eight three-bedroom houses will be available from €275,000, representing a reduction of approximately 21.4% from market value and a minimum of two four-bedroom houses will be available from €295,000, representing a reduction of approximately 20.2% from market value.

The houses will generally be available for first-time buyers who do not own a home, although a small number of exceptions apply, and to Fresh Start applicants.

In order to be eligible to apply, applicants must satisfy a range of criteria, including being a first-time buyer or meeting the exceptions under the Fresh Start principle. 

For the three-bedroom homes, gross household income for the previous 12 months should be below €75,883, again with some exceptions, and for a four-bedroom property, gross household income for the preceding 12 months should be below €79,089, but again, there are certain exceptions.

Through the affordable housing scheme, purchasers will enter into an arrangement with the council which will retain a percentage equity share in the house, equal to the difference between the market value and the price paid by the purchaser.

The council said the Clonmore housing development is in a good location within walking distance of Mallow town centre and next to a mature residential area.

The council said the Clonmore housing development is in a good location within walking distance of Mallow town centre and next to a mature residential area.

Mayor of the County of Cork, Cllr Frank O’Flynn, said the council is delighted to launch the scheme.

“Mallow offers an excellent choice of educational and recreational facilities for families,” he said.

“Clonmore offers A-rated homes with the convenience of urban dwelling combined with the benefits of a rural lifestyle, providing houses in a well-designed, landscaped setting.” 

Applications for the scheme will be accepted between 12 noon on June 24 to July 15 via the online application portal on the council’s website corkcoco.ie.

The website also includes details on how the scheme works, and on the raft of other social and affordable housing developments in the council’s pipeline. The site also explains how applicants are prioritised, and it provides a guide to making an application and information on all of the documents required.

Source: Eoin English, Irish Examiner, Tuesday 18th June 2024