Scotland gets record affordable housing investment

31-Mar-2005

Affordable housing in Scotland aimed at first time buyers and key workers has received a massive cash injection.

Click here for information about Key worker homes.

The Convention on Scottish Local Authorities (COSLA) has announced record investment in a number of the regions as it looks to bring cheap housing to aspiring homeowners across the country.

In a time of high property prices, COSLA has promised £15 million to be sunk into the creation of affordable homes in Lothians and the Borders, while the Highlands and Islands is to receive £37 million from Communities Scotland to establish large areas of chap housing.

The move comes as part of the government's scheme to improve the amount of affordable housing available to those in Scotland and in particular to create affordable options for first time buyers and key workers in the country.

Click here for our First Time Buyers Guide.

It represents the start of a three-year scheme from the Scottish Executive which will supply the regions with £1.2 billion of investment so that at least 21,500 new or improved affordable homes can be built to bring in more first time buyers into the market.

Communities Minister Malcolm Chisholm welcomed the announcement, commenting: "The investment in affordable housing will support the Scottish Executive's commitment to growing the Scottish economy."

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