CLG announces £500m for affordable homes

Housing minister John Healey has announced a boost to house building in England, by confirming nearly £500million funding to build around 8,000 affordable homes across the country. This takes total government funding for house building to £3.5 billion 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.