46 Kilkenny families in new homes thanks to affordable purchase scheme

A total of 46 families are in new homes in Kilkenny, that they would not otherwise have been able to afford, thanks to the local authority’s Affordable Purchase Scheme.

The successful schemes last year were in Kilkenny City and Ferrybank, and are to be followed up with another two this year, in Kilmacow and Thomastown, and plans for more in the city in 2026.

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In a presentation to local councillors in the Callan Thomastown municipal district, Bríd Hynes from the council’s housing section, explained how the scheme works and how prospective home owners can apply to purchase a house under the scheme.

Following the Affordable Housing Act in 2021, Kilkenny County Council started their developments in 2022. Last year the first schemes were rolled out under the Affordable Purchase Scheme — 14 in Abbey Meadows in Ferrybank and 32 homes in the city, at Nyne Park and Cluain Glasan.

This year homes will be offered under the scheme in Church View, Kilmacow, and Abbey Hill in Thomastown.
It is hoped that in 2026 a development of 80 homes will be built at Kilcreene, including 39 affordable homes.
The council is also in talks with developers for further schemes.

All applications must be made through the council’s online application portal. Applications for Church View opened on September 10. It is hoped to open applications for Abbey Hill on October 15 next.

Ms Hynes explained that the Affordable Purchase Scheme works in conjunction with a number of financial institutions.

The scheme is based on a shared equity plan with differences in the finer details dependent on the individual schemes.
An agreement is signed for 40 years, during which time the home-owner can buy back the equity held by the council at any time, in increments.

The purchase price of a home under the scheme can be up to 20%/25% less than the ‘open market’ price.
For example, in Church View, Kilmacow, the open market value of the homes is €325,000 while the minimum affordable scheme price is €248, 475.

The Affordable Purchase Scheme is open to buyers whose ‘purchasing power’ is less than 95% of the market value of the home, as well as other criteria.
If the schemes are over-subscribed then a priority allocation system must be used.

Ms Hynes encouraged all interested prospective home-owners to watch a video explaining the process on www.kilkennycoco.ie/affordable-homes where they can also find more information on the scheme.