Cork City Council’s secondhand home acquisitions more than halved

The amount of secondhand property acquisitions by Cork City Council reduced by more than half between 2024 and 2025, new figures show.

In 2024, 135 purchases were completed by the local authority under a scheme which allows local authorities to buy properties from private landlords, and to rent them directly to tenants who would otherwise be evicted.

Figures provided by minister for housing James Browne show that the city council was allocated €20m under the 2025 secondhand acquisitions programme and is projected to draw down €21m, with which it acquired 63 properties during the year.

Mr Browne said that extra funding was allocated to the council in September and that the city’s was one of several local authorities that were approved to progress and complete additional acquisitions, and draw down the relevant funding. Local authorities have also been authorised to enter into commitments for 2026 to a value of up to 30% of their original 2025 acquisitions budget, allowing them commit extra for purchases that will complete and draw down this year.

He added that he expects the parameters of the 2026 programme, including individual local authority allocations, to be notified early this year.

A council spokesperson said that upper limits on acquisitions were increased temporarily for 2023 and 2024, and that last year: “Cork City Council’s initial funding allocation was €20m which would cover commitments from 2024 and new acquisitions for 2025 and into 2026.

“In September 2025, a further €2m was allocated to Cork City Council which is to be ring-fenced for acquisitions that support households, and particularly larger families with children and Housing First clients, to exit from long-term emergency homeless accommodation into housing.”

The 2025 acquisitions programme to the end of November included 48 acquisitions at a cost of €19,957,054, with €16,287,521 of this recouped and the balance of claims with department for payment, they said. There are a further 14 acquisitions in conveyance, which cost €5,462,500.

The information was provided to Sinn Féin TD Thomas Gould, who said that the 50% reduction year-on-year had a “direct result” on latest homelessness data.

“This was the only homeless prevention measure working for my constituents. It meant landlords could sell and the council could house vulnerable people.”

Councillor Kenneth Collins agreed: “This was a scheme that was working. The council were doing their best and they were saving children and adults from the trauma of homelessness.”