More affordable housing unveiled

07-Jun-2005

The government has launched the second phase of its proposals designed to stimulate interest from builders in developing affordable housing across the country.

John Prescott, the deputy prime minister, has named 33 organisations that will progress to the next stage of the competition, and unveiled three new sites to be used for eventual development by the winner.

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First time buyers are set to benefit most from the scheme, as it is designed to create more affordable housing across the country, so that aspiring homeowners are able to get themselves onto the first rung of the property ladder.

The Design for Manufacture competition forms a major strand of the government's commitment to create one million more homeowners within the next five years, by addressing the issue of rising construction costs.

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Mr Prescott revealed that the new sites for the builders to develop the affordable homes will be in in Hastings, Stone and Merton.

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