£290 million has been released in October for New Affordable Housing says Housing Minister
Housing Minister John Healey today announced that in October he confirmed the release of a further £290 million that should build almost 5,500 affordable homes across the country, helping to tackle housing waiting list pressures, boost the construction industry and support over 6000 jobs.
Mr Healey said that this latest installment of Government cash to build more affordable homes brings total Government support for housebuilding since June to £1.8 billion.
Projects right across the country will feel the benefit of today’s £290 million cash, building almost 5,500 more affordable homes across 149 local authority areas. The funding will be distributed through the Homes and Communities Agency, the Government's housing delivery body.
Mr Healey said over a quarter of the new homes provided will help get first time buyers onto the property ladder through the HomeBuy scheme and other low cost home ownership programmes, while the remainder of the new homes will provide much needed council and housing association properties for social tenants.
Mr Healey also made clear his determination that every one of the housing associations receiving Government housebuilding cash will be required to provide apprentices to help secure a strong future for the industry and support and cultivate the next generation of construction workers through providing young people the chance to gain experience and qualifications to build their careers.
Speaking at a UNISON Conference in Manchester today, John Healey said:
"We’re building the homes this country needs, providing new homes for families across the country and helping first time buyers take their first step onto the housing ladder.
“We’re using the power of government investment to support the construction industry at a time of recession when it needs it most, providing the means to help get the market moving again. And with tough terms for developers to get their cash we’re getting the most for every taxpayer’s pound, creating new jobs and apprenticeships and safeguarding the future of the industry.
"Today’s investment to build more affordable homes brings the total government help for housebuilding since June to £1.8bn and I'm determined to keep building homes in the months ahead, with further cash to come for councils, housing associations and developers."