New affordable home scheme announced in Laois starts at €257,500

First time buyers on lower incomes have a chance to grab one of seven top spec new homes in a new Portlaoise housing estate at a reduced price, but it is still beyond the reach of many shopping for a home.

Minister for Housing, Local Government and Heritage, Darragh O'Brien launched the sale of the homes, along with Laois County Council staff, management and councillors and Minister Sean Fleming. 

The A rated brand new three bedroom houses are in the 91 house An Lochán estate, Summerhill in Portlaoise.

Five houses are three bedroomed terrace homes, and will cost from €257,500 to €264,500.

Two further homes are three bedroomed semi-detached, costing from €267,500 upwards.

Laois County Council in partnership with Woodfort Group and the Department of Housing and Local Government is opening applications to buy the homes on Wednesday, May 8.

"We are delighted to welcome applications for 7 homes through the Affordable Purchase Scheme in An Lochán, Portlaoise, Co. Laois.

"These beautiful A rated modern homes are located in the heart of Portlaoise, close to all local amenities," the council says.

The Reed with five houses available are 3 Bedroom Terrace, sized 107-109 sq.m. / 1155-1171 sq.ft.  Numbers 35, 43 and 45 have a minimum selling price of €264,500, and numbers 36 and 44 are priced from €257,500.

The auctioneers Knight Frank describe An Lochán as "a new development of A-Rated homes nestled among the existing mature landscape. These meticulously designed homes are within walking distance of Portlaoise town with plenty of local amenities, such as shopping, restaurants, theatre, cinema, health and fitness, swimming and sports, there are also 4 local primary schools situated within a few minutes’ walk of the site.

"Summerhill is an ideal location; the development is located with fantastic transport links from Dublin city centre with the M7 Motorway a 5-minute drive of the site the town also has a train that goes to Heuston Station, Dublin in approximately 48 minutes and is also accessible by bus." 

Allocation of units will be subject to Laois County Council Assessment, and the final price will be determined by way of financial assessment inline with Affordable Housing Regulations.

Applications for the houses can be made online to Laois County Council from 09 pm Wednesday, May 8 until 11am on Friday, June 7 2024.

"Best of luck to all those applying, for any queries you can email our team on: affordablepurchase@laoiscoco.ie".

What is the Local Authority Affordable Purchase Scheme? 

The scheme helps people on moderate incomes to buy new homes at reduced prices. The local authority takes a percentage stake in your home that covers the reduction in price. For example, in a home with a 20% discount, the local authority owns a 20% stake.

Homeowners must buy back the local authority’s stake after 40 years or if it is sold. They can repay it any time before that. This scheme is aimed at first-time buyers, and those qualifying under the Fresh Start Principal such as divorced people.