Affordable housing challenge down to three

07-Nov-2005

Housebuilders George Wimpey, Barratt and the SIXTYK Consortium have been announced as the winners of the government's affordable housing challenge.

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The three developers have made it through to the final round of the challenge and will now be go ahead to build properties for £60,000 each on designated land around the country.

Building work is due to begin next spring as the government uses the competition as an innovative scheme to provide more affordable homes for aspiring first time buyers, thereby easing the growing property shortage.

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Deputy prime minister John Prescott announced: "We set the bar very high to ensure the winning bids are of the highest calibre in terms of design, cost efficiency and environmental standards."

Mr Prescott is hopeful that the competition will help to improve the situation for first time buyers by enabling them to find affordable housing to get onto the first rung of the property ladder.

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