Cork County Council has decided to end the Affordable Housing Scheme and due to large debts will now be attempting to sell some of the 800 empty houses it has on the open market. No info yet on the prices. most of these properties have been empty for years. The "affordable" prices were in most cases higher than the open market price available from developers.
Cork County Council to offer affordable housing stock for sale on open market
- Thread starter kazana
- Start date
I would be one of those that would feel that at least an 8% deposit should have been required anyway. btw most of the 800 vacant houses were purchased in early 2007 when local authorities were requested by the Dept of the Enviroment to borrow to buy large numbers of houses. The tactic worked. Fianna Fail was reelected and local authorities were left with massive debts. The local authorities then made sure the houses remained unsold by offering them at a discount from what they paid for them rather than at a discount from the current Market price. I assume that the new open Market prices will be more realistic but this is far from a firesale.
2. Apartments And Duplexes, Harbour Heights, Passage West, Cork City Suburbs - New Development
From €150,000, Group of 1 Bed Apartments For Sale
2 X 3 Bed Duplex, 2 X 3 Bed Apartments, 2 X 2 Bed Apartments, 1 X 1 Bed Apartment 1 X 3 Bed House & 5 X 2 Bed House
Agent: Cork County Council add to saved ads view more details
Looks like it's happening alright!
From €150,000, Group of 1 Bed Apartments For Sale
2 X 3 Bed Duplex, 2 X 3 Bed Apartments, 2 X 2 Bed Apartments, 1 X 1 Bed Apartment 1 X 3 Bed House & 5 X 2 Bed House
Agent: Cork County Council add to saved ads view more details
Looks like it's happening alright!
They're on Daft.ie
http://www.daft.ie/searchnew_development.daft?id=11036
This lot are in Rochestown, Co Cork.
http://www.daft.ie/searchnew_development.daft?id=11036
This lot are in Rochestown, Co Cork.
You may want to take a deep breath and take another look. The likelihood is that the prices on offer for AH are WORSE than those available on the open market.
This article has been rehashed a number of times at this stage but gives a good overview of why we are where we are.
[broken link removed]
Now that's Dublin City Council with it's 158 units. Cork City Council has 800.
LadyGaga, can you see the house you were looking at on Daft?
http://www.daft.ie/searchsale.daft?search=1&s[agent_id]=7689&s[p]=qppssrqq
It is very cheeky of them to offer these houses on the open market before offering them to people who have been waiting on the affordable housing list for so long.
http://www.daft.ie/searchsale.daft?search=1&s[agent_id]=7689&s[p]=qppssrqq
It is very cheeky of them to offer these houses on the open market before offering them to people who have been waiting on the affordable housing list for so long.
Seriously, did you not read any of the linked articles?
The Council is in the current position because all these properties have been refused by people on the list. Twice.
And LadyGaga, I'm incredulous that you can think that this is your only option. That buying a property at a HIGHER price than the same property on the open market is your best route onto the property ladder. I can only imagine you are using the same logic as those who remortgaged with sub-prime lenders at rates far above market rates simply because other banks wouldn't facilitate them.
If your heart is set on a particular developement ring the Housing Department of Cork Council and explain that you are about to send in your application , and ask are they holding onto any of the units. They might be keeping literally 1 or 2 . Get your application in as quick as possible.
Howitzer, you have no idea what you are on about. I take it you are not on the affordable list yourself. These houses were NOT offered to us applicants, we actually expressed interest in some properties to no avail.
You seem obnoxious in your response. It is very important to some people to get a house for their family not just focusing on the resell price.
Step outside your bubble.
Well said. Ive had a lot of people turning up their nose when I say I'm buying through affordable housing . Obviously if I had a higher salary and more savings ( or the option to stay at home to continue saving ) I'd buy privately. But the AH is working out perfectly for me , I love the house , the area . Its my HOME , I probably wont make a profit on it , but its my HOME.
well said newuser and renter27...as i said in previous post..which the very obnoxious howitzer clearly didnt read...the ah scheme is my only option of obtaining a mortgage based on my personal circumstances...i do not have any interest in selling on for profit in the future..i just want a home for myself and my son...
It is possible that your salary was too low to get an offer. many of the more desirable properties would only have been offered to those earning over €45,000. quite ironic when you consider that the Affordable Housing Scheme was originally intended for those on low incomes. e.g. two beds in Maryborough Ridge are now on offer at the reduced price of €230K. I assume that the Affordable price was higher. And once again please note that since 2008 the Affordable price with all the conditions was in most cases higher than the open market price available from developers in the same estate.
My husband would be in that wage bracket. Our issue is with savings, we do not have the 8% as required. We recently got married and had our first child and this depleted our savings as you can imagine. At this stage we could be renting with our baby and any further children we may have for years.
We initally went on the affordable housing list when we both had finished college and our wage was fairly basic. We didnt get much offers, mostly apartments, when we were low earners and when our salaries increased it made little difference to actually getting a house. We did express interest in 2 schemes but we were not contacted by the Council any further after this.
It seems as though you cant win.
Howitzer, I'm incredulous that you don't seem to understand where most of the people on this site are coming from. Nobody doubts the facts and figures regarding the fall of house prices that you are posting. It's not like we don't believe you or the Examiner newspaper either for that fact! It just doesn't matter that much to all people.
[FONT=georgia, bookman old style, palatino linotype, book antiqua, palatino, trebuchet ms, helvetica, garamond, sans-serif, arial, verdana, avante garde, century gothic, comic sans ms, times, times new roman, serif]"No man but feels more of a man in the world if he have but a bit of ground that he can call his own. However small it is on the surface, it is four thousand miles deep; and that is a very handsome property." ~Charles Dudley Warner[/FONT]
Wise words!