High level of interest expected as applications to open for 35 new affordable homes at Kilkenny’s Nyne Park

Kilkenny County Council, working in partnership with Cairn and the Department of Housing, Local Government and Heritage, is set to launch the first scheme of Affordable Homes in Kilkenny under the Local Authority Affordable Purchase Scheme.

The council has announced the upcoming opening of the application process for 35 newly-built homes in Kilkenny City. The homes, developed by Cairn, comprise a mix of three-bed houses and will be available on a phased basis from Q2 to Q4 2024.   

Under the Local Authority Affordable Purchase Scheme, the 35 A-rated homes, located at Nyne Park, Callan Road are being made available at a reduced price from the open market value for eligible purchasers and in return Kilkenny County Council will take a % equity share in the property.

The houses are generally targeted at first-time buyers (exceptions apply) who need assistance bridging the gap between their own available funds (including the Help to Buy scheme), the mortgage that they can obtain and the cost of the new home.

Making these homes for sale at a price lower than the open market value has been made possible through the Affordable Housing Fund (AHF) which is a subsidy provided by the Department of Housing, Local Government and Heritage to Local Authorities as a direct subvention on housing development costs. 

Under the Affordable Purchase Scheme, managed by Kilkenny County Council, eligible buyers will be able to purchase and own their own new home by availing of this shared equity scheme.

Standard full market prices for the 35 homes start at €345,000 and rise to €360,000 with purchasers able to avail of equity contributions of up to €90,000, depending on the price of the property and the applicant’s own financial circumstances.

Under the Affordable Purchase Scheme, Kilkenny County Council will retain an equity share and successful applicants have the option of buying out this share over time.  Equity shares are calculated on an individual basis and are linked to an applicant’s income, their savings and their mortgage capacity.

Applications for all 35 homes can only be made online via an online application portal which will open at noon on Wednesday, April 24 and close at noon on Wednesday, May 22, 2024. 

Potential applicants are being advised to familiarise themselves with the eligibility criteria and to compile the requisite documents to complete their applications subject to them meeting the qualifying criteria. Full information is available at https://kilkennycoco.ie/nyne-park .   

It is expected that demand will be high for these homes. It is strongly recommended applicants have Mortgage Approval in Principle prior to applying for this scheme, as applicants will be required to demonstrate their capacity to purchase.

Only valid applications (applications with all required documentation submitted) will be go forward for assessment. Applications which are incomplete or those not accompanied by the requested supporting documentation will be deemed invalid.

Announcing the launch of the Affordable Homes at Nyne Park, Cairn CEO Michael Stanley said:''Cairn is proud to bring these high-quality, A2-rated, affordable homes, to the market in partnership with Kilkenny County Council under the Local Authority Affordable Purchase Scheme.  We are delighted to see the application opportunity now open for these homes, having commenced Nyne Park just 12 months ago.  We look forward to welcoming the many people who will call Nyne Park their home.'' 

Lar Power, Chief Executive of Kilkenny County Council, said: “We are excited to work with Cairn in bringing these houses to the market at prices that eligible households can afford. Kilkenny is a fantastic place to live and work and it is great that more people will now have the option of buying and owning their home in the area.

"The financial supports being made available are extensive and will make a difference to those who do not qualify for social housing, but who have not been able to afford new house prices without a level of equity support. We urge all would-be first-time buyers to examine the criteria and to get in touch with us if they need more information or wish to apply.”

The council are organising a number of clinics over the coming weeks whereby interested individuals can meet with the Affordable Housing Team to discuss any queries they may have in relation to this scheme.

The clinics will take place at Hoban Hotel from 4pm to 8pm on the following dates: Thursday, April 11; Monday, April 15; Tuesday, April 16; Monday, April 22.  The team will also be available on Thursday, April 18 from 2pm to 4.30pm at the Council Housing Offices at Johns Green Kilkenny.

It’s important to book a time slot in advance as it is expected that there will be high demand for these clinics.  To secure your date/time please email  affordablehousing@kilkennycoco.ie 

Further information on the Local Authority Affordable Purchase Scheme is available on the council website www.kilkennycoco.ie or email affordablehousing@kilkennycoco.ie