Laois Council selling affordable lakeside homes near Portlaoise schools

placeholder image — An Lochán in Portlaoise

Buyers invited to apply for Local Authority Affordable Purchase Scheme

New affordable houses are on sale in Portlaoise through a partnership involving Laois County Council and builders the Woodfort Group.

With the support of the Department of Housing, Local Government and Heritage, the council has launched a Local Authority Affordable Purchase Scheme at An Lochán, Summerhill off the Stradbally Road.

A total of 11 three-bedroom homes are available for purchase. The Council says An Lochán is a new development of A-rated homes.

“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 four 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,” said the statement.

The houses are located close to several primary schools and not far from the location of the site for the new home of Dunamase College secondary school.

The homes on offer are a mix of six terraced and five semi-detached homes. They vary in price from €257,500 to €267,500. Gross income limits apply to applicants.

Other four-bed houses are being sold privately in the same estate on the former Cecil Lewis lands where many other houses have or are being built in the Laois county town. MORE BELOW PICTURE.

Launched nationally in 2021, the Local Authority Affordable Purchase Scheme helps people on moderate incomes to buy new homes at reduced prices. Such houses are located in areas with the greatest housing need and where affordability is an issue. The local authority takes a percentage stake in your home that covers the price reduction.

If you buy the home at a 20% discount, the local authority will have a 20% stake in your home. You must buy back the local authority’s stake after 40 years or if you sell your home, but you can repay it any time before this. This scheme is aimed at first-time buyers, but there are some exceptions.

Laois County Council, which is also selling affordable homes in Kilminchy, says such schemes help bridge the gap for first-time buyers between their purchasing power and the market prices of new homes. MORE BELOW PICTURE.

The price you pay for your new home under the scheme and the equity share the local authority takes in it are calculated by the local authority. This calculation takes into account your maximum mortgage capacity and the minimum price set for the home by the local authority. These calculations are done under regulations.

The maximum equity share the local authority will take in your home is 40% and the minimum is 5%.

You can get a mortgage from a bank or financial institution for your stake in the home. The Local Authority Home Loan and the Help to Buy Scheme may also be available.

Before registering and applying, the Council says there are eligibility rules.

Applicant is a First Time Buyer or meet the exceptions under the Fresh Start Principle.
Applicant owns a dwelling which, because of its size, is not suited to the current accommodation needs of the applicant’s household.
The affordable home must be the applicant’s normal place of residence.
All applicants must have the right to reside indefinitely in the State.
All applicants are over 18.
Applicant's purchasing power does not exceed 95% of the market value of the property.

Laois County Council has a section on its website where you will find more information on the Local Authority Affordable Purchase. If have questions the council says you can contact the Affordable Housing Team via e-mail at [email protected]

The Official Auctioneer for sales are Knight Frank.

The Woodfort Group says it is one of Ireland’s most successful property development teams with over 40 years of experience in creating new residential communities.