‘Affordable’ homes in Meath ‘far beyond the reach of ordinary workers’, says TD
As applications open this week for an affordable housing scheme in Kells, where three-bedroom terraced homes are advertised from €322,500, a Meath TD has warned that the “true cost” of ownership could rise to at least €405,000 due to the council’s equity stake.
Sinn Féin TD for Meath East, Deputy Darren O’Rourke, raised the issue in the Dáil last week during questions to the Minister for Housing, using the Foxwood Park development as an example of what he described as “nothing short of a disgrace” in the State’s affordable purchase scheme.
Speaking afterwards, Mr O’Rourke said the scheme was “failing on every measure that matters to working people.”
The affordable purchase scheme was introduced to help households who cannot access the open market but do not qualify for social housing.
“Housing affordability is a major issue in Meath. Many people are ineligible for social housing due to income thresholds, yet cannot afford a house on the open market because of soaring prices,” he said.
“The Government’s affordable housing scheme was supposed to help, but the reality on the ground lies its failure bare. Supply is nowhere near enough, and the delivery of affordable purchase homes is moving at a glacial pace — completely out of touch with the crisis facing families.”
At Foxwood Park, a three-bedroom terraced home is advertised with a minimum purchase price of €322,500. However, Mr O’Rourke said the “small print” shows the full cost could reach at least €405,000 once the local authority’s equity stake is accounted for. He added that a two-bedroom end-terrace home could ultimately cost at least €375,000.
For these homes, the maximum household income limits are €80,156 for the two-bedroom and €86,569 for the three-bedroom.
“In whose world is €405,000 affordable for a three-bedroom terraced house in Kells?” he asked.
“These prices are far beyond the reach of ordinary workers — teachers, nurses, retail and construction workers — who are being priced out of their own communities.”
"To further compound matters, there is a premium on the council equity,” he said.
“Homeowners are forced to pay a premium on the council’s equity stake when they seek to fully own their home. That means if the property value rises over time, they must pay the council equity percentage on the current market value, not the original price, and in lump sums of at least €10,000.”
"This is a nasty, hidden penalty that will add thousands of euros to the price of these properties.”
"This isn’t affordability, it’s a financial trap that will burden families for decades."
Deputy O’Rourke said the Minister told him in the Dáil that the schemes are “kept under review,” which he said offered “little comfort” to those currently seeking to buy a home.
“We need real affordable housing — homes that working people can actually afford, delivered at scale, with no hidden catches or future financial penalties,” he said.