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Government announces £500 million for new affordable homes

Housing Minister John Healey today announced a boost to housebuilding in England, by confirming nearly £500 million funding to build around 8,000 affordable homes across the country. This takes total Government funding for housebuilding to over £3.3 billion since June.

Every region of the country is benefiting from this extra cash to build much-needed affordable homes for sale and rent. 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.

Barking and Dagenham has been allocated a grant of £24.6 million for affordable housing. Jon Cruddas has welcomed this news and the Government's commitment to Housing and John Healey's determination to make the most of every taxpayer's pound invested in housing, by requiring housing associations, developers and councils benefiting from these record levels of Government cash to provide apprenticeship opportunities. This will help to secure a strong future for the housebuilding industry and supporting the next generation of construction workers by creating thousands of new apprenticeships.

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