28 Jan

Scottish affordable housing funding announced

Scottish affordable housing funding announced

New government money to help provide more affordable homes in Scotland has been announced today.

Deputy first minister Nicola Sturgeon revealed that £17 million is to be brought forward to help provide more housing.

The Scottish government said this is an "acceleration" in the supply of funds from the three-year, £120 million budget for housing.

Ms Sturgeon remarked: "We are determined to help the country's businesses and households deal with the impact of the economic downturn and to provide much needed affordable housing as quickly as possible."

Some of the money will help construction firms to continue with existing projects, while other cash will be used to buy up unsold stock from the private sector.

Such moves may help more first-time buyers in Scotland to get on the housing ladder.

The average Scottish home costs 5.6 times the average annual wage, new research from the GMB union has found, compared to 5.1 times as much in England and Wales.

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