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Funding news - 16/03/2017

Supply of Affordable Homes in Scotland through Increased Funding

Rented homes and support for home ownership in Scotland will receive a substantial boost during 2017/18.

There will be a significant investment in rented homes and support for home ownership during 2017/2018, with a sum worth over £590 million being made available by the Scottish Government. This is an increase of £18 million when compared to the previous year with the purpose of increasing and accelerating housing supply whilst delivering good quality homes that fit local needs. Furthermore, it is anticipated that an average of 14,000 jobs a year in construction and related industries will be supported through this extra homes pledge.

Communities Secretary Angela Constance announced this funding whilst visiting Link Housing Association’s new Edinburgh development. Constance has stated that: “we (the Scottish Government) are committed to delivering at least 50,000 new affordable homes over this Parliament backed by £3 billion. This major and increased investment for 2017/18 that I’m announcing today supports our ambitious commitment”.

£422 million will be shared across the 32 councils of Scotland so that they might deliver more affordable homes within their local communities in adherence to the Scottish Governments commitment to tackling poverty, reducing inequality and strengthening local communities. The remaining funding will go towards supporting national schemes which will include helping first time buyers as well as increasing rural and island housing.

Source: news.gov.scot, 16/03/2017

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