I don't remember, did Shirogane have a restriction on private housing? I expect it will release like Shirogane.No timer but there may be a personal purchase moratorium. Someone who wants a personal house in Ishgard is going to have a much better chance of getting a good plot if they already have a house and relocate. Otherwise, it's going to just be less desirable smalls available for purchase by the time the moratorium is lifted.
I don't believe it did initially. They opened it up like any other ward. SE got quite a talking to from the player base afterwards, forcing Yoshi P to make a lengthy apology. I THINK it was after that they started releasing it to FC/Relocators only for a certain period of time, because the initial release of Shirogane was an absolute crapfest. All housing wards have followed the FC/Relocators first policy since.
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