Housing minister John Healey today confirmed nearly £500m in extra funding to build around 8,000 affordable homes across the country.
This takes the total Government spend for housebuilding to £3.5 bn since June.
Over 3,000 of these new homes are expected to be available through the government’s HomeBuy schemes, offering first time buyers a helping hand onto the property ladder. And nearly 5,000 homes will be available for affordable rent through housing associations.
Healey said: “We have used the power of public investment to ensure that even during the downturn we continued to build the homes this country needs. When levels of private housebuilding plummeted, we stepped in with record levels of funding to get Britain building again.
“So today, I can confirm I have given the go-ahead to nearly £500million extra funding for Housing Associations to build 8,000 new homes. But I want to make the most of every taxpayer’s pound, which is why I am requiring those benefiting from this extra cash to offer local job and apprenticeship opportunities.
“Today’s investment in more affordable housing takes total Government help for housebuilding to £3.5billion since June. As the economy continues its recovery, I am determined that this support continues for the industry, for first-time buyers and for families.”