Dáil Éireann Debate, Thursday - 6 February 2025
126. Deputy Conor D. McGuinness asked the Minister for Housing, Local Government and Heritage the price, including the equity stake held by Waterford City and County Council, of three-bed and four-bed units in a development (details supplied) in Waterford; and if he will make a statement on the matter. [3634/25]
View answer127. Deputy Conor D. McGuinness asked the Minister for Housing, Local Government and Heritage the price, including the equity stake held by Waterford City and County Council, of two-bed and three-bed units in a development (details supplied) in Tramore, Co. Waterford; and if he will make a statement on the matter. [3635/25]
View answerI propose to take Questions Nos. 126 and 127 together.
In line with Part 2 of the Affordable Housing Act 2021, the administration of affordable purchase housing schemes is a matter for the local authority concerned, in this case Waterford City and County Council. This includes the determination of the minimum affordable price at which particular homes will be advertised and agreeing the Affordable Dwelling Purchase Agreement, including the shared equity arrangement, with the approved affordable purchase candidates on the basis of their specific purchasing power.
The following table sets out the market value and the minimum affordable prices advertised in respect of the range of homes on offer at Brindle Close, Kilbarry and at The Courtyard, Ballycarne, Tramore:
|
Affordable Scheme |
House Type |
Open Market Value |
Minimum Affordable Price |
|
Kilbarry |
3 Bedroom |
€299,000 |
€224,000 |
|
Kilbarry |
4 Bedroom |
€349,000 |
€274,000 |
|
Tramore |
2 Bedroom Terrace |
€326,000 |
€251,000 |
|
Tramore |
3 Bedroom Terrace |
€356,000 |
€281,000 |
|
Tramore |
3 Bedroom End of Terrace |
€371,000 |
€296,000 |
|
Tramore |
3 Bedroom Semi-Detached |
€379,000 |
€304,000 |
The upfront price that purchasers availing of the local authority affordable purchase scheme pay for their new home is based on their purchasing power and means.
The gap between the market value of the home and the upfront price being paid by each purchaser sets the size of equity stake held by the local authority. The equity share will vary in accordance with the individual financial circumstances of each purchaser availing of the scheme, and in the case of the homes in Kilbarry and Tramore it will lie between 5% and 25% of the market value.
