Applications open for ten affordable homes in Cork as house prices rise again

Applications have opened for a handful of affordable houses in North Cork as the latest reports spell bad news for the county’s housing crisis.

The new homes are being delivered by the O’Flynn Group in Clonmore, Ballyviniter in Mallow and will consist of at least eight 3-bed homes and a minimum of two 4-bedroom homes. Each will be up for sale at approximately 20% below market value – and come as new figures show house prices continue to rise across Cork city and county.

The cost for an average second-hand three-bed semi on Leeside went up again in the second quarter of the year – rising 1.3% to €380,000. Meanwhile, across the wider South West region we’ve seen house prices increase by just under 9% in the 12 months leading up to April 2024.

The Mallow properties will be available from €275,000 – a whopping €60k lower than the county’s current average house price of €335,000. But depending on the area you’re looking in, these price tags could be even higher.

Applications for the scheme opened here at 12 noon today (Monday, 24 June) and it’s expected there’ll be thousands of applications from first-time buyers struggling in the current housing crisis. Set in the Blackwater Valley, the development is in a good location within walking distance of Mallow town centre, giving easy access to the city centre by train.

All interest must be registered by 12pm on 15th July 2024.

The properties are being put up for sale to primarily First Time Buyers who cannot afford to purchase a home at its open market value in the current housing market and who qualify for the scheme – with thresholds including income and eligibility limits.

For example, 3-bed homes at the Clonmore development will be made available to buyers with a household income of around €75,883 or less per year. You can find out more on the council’s application form here.