Government announces £83m for affordable homes - planning and development

Monday, March 08, 2010

New cash injection to help build 5,700 homes in Britain

By Ashley Brunskill

Planning and development of more than 5,700 affordable homes in the UK will go ahead thanks to a cash injection by the government.

Housing minister John Healey announced today (March 8th) an £83 million investment deal which it is said can help more families on to the property ladder.

The government claims that the project will also save around 1,700 jobs in the housebuilding sector and Mr Healey believes that the cash injection will be vital to the UK.

Last week, housebuilder Persimmon recorded a yearly profit after a one-off write-up of its land assets.

"We're putting the weight of government investment into building much-needed affordable homes, keeping people in work and giving young people a chance of apprenticeships," Mr Healey said.

Around 141 projects that came to a halt during the recession have already received funding to get them going again including numerous projects in and around the capital.

London and the south-east will receive more than £7.5 million in Kickstart funding including redevelopment of Acton Bus Depot in Ealing which will be refurbished into 85 flats with good transport links.

Source: ask-re The Property People LLP