£300m dished out to build 6,000 Scottish homes

£300m dished out to build 6,000 Scottish homes 10/30/2013 All 32 of Scotland’s local authorities have today been allocated a share of £300m in subsidy for affordable homes. The funding will deliver more than 6,000 affordable homes, including 4,000 social homes. This is part of the Scottish Government’s investment of £391m to the Affordable Housing Supply Programme in 2015/16. The remaining £91m will be managed centrally, with £30m for the Low Cost Initiative for First Time Buyers, £10m for the Home Owners Support Fund, with the rest earmarked for affordable housing projects that promote innovation. The funding brings the Scottish Government’s four-year investment in local programmes to over £1bn, out of a total AHSP budget of £1.35bn. Sottish housing Minister Margaret Burgess said: “Despite the severe cuts to our budgets by the UK Government, this is a substantial funding boost that will support house building across Scotland.” Alan Ferguson, Director of the Chartered Institute of Housing Scotland, said: “This budget represents an increase of around 21% on the average annual spend of £323m within the current programme.” Earlier this year Deputy First Minister Nicola Sturgeon announced an increase to housing subsidies, which will give councils and housing associations an extra £16,000 per home. Councils now receive around £46,000, towards the cost of building a new home, while RSLs get around £58,000, or more in certain remote areas.

10/30/2013

All 32 of Scotland’s local authorities have today been allocated a share of £300m in subsidy for affordable homes.

The funding will deliver more than 6,000 affordable homes, including 4,000 social homes.

This is part of the Scottish Government’s investment of £391m to the Affordable Housing Supply Programme in 2015/16.

The remaining £91m will be managed centrally, with £30m for the Low Cost Initiative for First Time Buyers, £10m for the Home Owners Support Fund, with the rest earmarked for affordable housing projects that promote innovation.

The funding brings the Scottish Government’s four-year investment in local programmes to over £1bn, out of a total AHSP budget of £1.35bn.

Sottish housing Minister Margaret Burgess said: “Despite the severe cuts to our budgets by the UK Government, this is a substantial funding boost that will support house building across Scotland.”

Alan Ferguson, Director of the Chartered Institute of Housing Scotland, said: “This budget represents an increase of around 21% on the average annual spend of £323m within the current programme.”

Earlier this year Deputy First Minister Nicola Sturgeon announced an increase to housing subsidies, which will give councils and housing associations an extra £16,000 per home.

Councils now receive around £46,000, towards the cost of building a new home, while RSLs get around £58,000, or more in certain remote areas.

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