Affordable home ownership

Discount market value (DMV) and the First Homes scheme

Some new housing developments include homes on their sites which are sold with a percentage discount. The amount of discount differs on each site to make it affordable. To be eligible to buy a discounted home, you need to meet criteria relating to your local connection and financial eligibility (this information is available when you apply).

How to apply

On the initial purchase of a home you would apply through the developer and they will let you know which properties are available on their site. They will help you complete the eligibility checks and application form prior to this being submitted to the council for consideration. There are DMV and First Homes available on many sites across the city and sales office staff will be able to help.

Selling your discount market value or first home

To keep houses affordable, when you sell your DMV or First Home you must pass your percentage discount on to the next buyer. Once you decide to sell, you must contact us to let us know and we will also be able to advise you on the next steps.

Find out more about the First Homes scheme: discounts for first-time buyers (opens new window).