Menu

This is an archive site. For the main site, please visit https://homesforscotland.com

NewsArticle-15-02-2011

Latest news  /  Archives  /  Archive 2011  /  NewsArticle-15-02-2011
breadcrumb shadow

Budget’s extra funding for housing warmly welcomed

Homes for Scotland has warmly welcomed the additional £16m of housing investment announced in last week's Scottish Budget following a call from the Conservatives for further help for first time buyers and to get the housing market moving.

The extra money will be delivered by expanding the Scottish Government’s Open Market Shared Equity Scheme, introducing an infrastructure loans fund and by further expanding the New Supply Shared Equity scheme.

This represents a boost for the country’s vital private sector home building industry which, prior to the credit crunch built 20,000 new homes each year for sale and impacted the employment of 100,000 people. Over the last three years, however, it has seen production and jobs halved.

Jonathan Fair, Chief Executive of representative body Homes for Scotland(right), said:

“Following on from last week’s publication of the Scottish Government’s new Housing Strategy and Action Plan, which has a strong emphasis on increasing supply and innovatively using limited public funds to leverage private finance, this is another very positive announcement for our industry.

“Not only will it help First Time Buyers realise their aspirations of owning their own home, it will remove pressure on housing waiting lists and encourage higher levels of investment in the affordable sector.”

Ends

Enquiries to:
Jennifer Kennedy, Homes for Scotland – 0131 455 8350 / 07763 240694

Notes to Editors:

Homes for Scotland represents the country’s home building industry which, prior to the onset of the credit crunch,:

- was the largest source of private investment in Scotland and the largest user of the planning system

- built 20,000 new private homes each year, contributed £6bn to the economy and supported the employment of 100,000 people (2007 figures)

As a result of the economic downturn, housing supply is now touching all time lows. This is having far-reaching and long-term social and economic consequences for Scotland's population.

Follow us on Twitter at http://twitter.com/H_F_S.

Text/HTML

Play your part and become a member today

Help us deliver the new homes that Scotland needs