Minister Cummins confirms approval for Waterford’s fifth Affordable Purchase Scheme

54 housing units at Clover Lawns, Summerfields will comprise of 2, 3 & 4 bed homes starting from €255,000

Waterford Fine Gael Minister John Cummins has announced that Waterford’s fifth affordable purchase scheme has been approved by the Department of Housing, Local Government and Heritage and will be constructed at Clover Lawns, Summerfields in Waterford City.

The site, which has planning permission, is located off the Kilbarry LIHAF road and adjacent to two previous phases of affordable purchase housing developments located in the area.

Minister Cummins said: “I am delighted to have worked withWhitebox, Waterford City & County Council and the Department of Housing, Local Government & Heritage to bring forward this scheme for purchasers in Waterford. Thesefifty-four units will comprise of two, three and four bedroomhouses and are due to commence construction in in the coming months.”

On Friday last, February 13^th, An Tánaiste Simon Harrisjoined Minister Cummins on a visit to Summerfields as part of a series of engagements in Waterford. This new neighbourhood is an excellent example of government partnering with all agencies and the private sector to deliver social, affordable and private housing at scale. When complete, the entire scheme will have close to 1,000 housing units.

The Affordable Purchase Scheme is open to first time buyers or those who qualify for the ‘Fresh Start Principle’ and no longer have a stake in a property. Under this Clover Lawns scheme, an equity stake of up to €75,000 can be taken in the property. The actual equity amount will differ depending on the maximum mortgage approval figure a purchaser can get from a lending institution. The equity stake can be purchased at a future point in time if the owner chooses to do so.

Minister Cummins also pointed to the success of the governments First Home and Help to Buy schemes.

“The First Home Scheme is also available to eligible purchasers to assist with bridging the gap to home ownership by up to 30% of the unit cost. Since January, the unit price ceiling has now been increased to €400,000 in Waterford, which will bring a whole new cohort of properties within the scope of the scheme. So far, 86 homes across various new housing schemes in Waterford have been purchased with the use of the First Home Scheme, with 127 live approvals to the end of December.”

“Importantly, the First Home Scheme can be combined with the Help to Buy Scheme which provides first time buyers with up to €30,000 of their tax back to assist with their deposit for a newly built home. In Waterford, 1668 homes have been purchased with the assistance of the Help to Buy scheme since it was introduced by Fine Gael. Yet despite this, the likes of Sinn Fein, Labour and the Social Democrats would abolish it tomorrow morning if they were in government, taking the rug out from under first time buyers.”

Minister Cummins also gave an indication that further affordable purchase schemes are on the way for Waterford.

“I am currently working with Waterford City and County Council in relation to schemes in Dungarvan, Ardmore, Kilmacthomas and Crooke which are at various stages, but all have the potential to deliver very significant housing interventions across Waterford. As a Minister in the Department of Housing, my priority is building on the 724 housing units that were completed in Waterford last year. We do have a strong pipeline for delivery across 2026 and 2027 which is very encouraging.”