Wilson Bowden launches affordable housing scheme

03-Mar-2006

UK house builder Wilson Bowden has launched its range of affordable housing to offer first-time buyers the chance to get their foot on the first rung of the housing ladder.

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Prices start at £65,000, with houses ranging in size from 300 sq ft to 677 sq ft, reports the BBC.

Planning approval has already been granted for the construction of 100 homes and building has already begun on sites in Nottinghamshire and Northamptonshire.

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On Wednesday, Wilson Bowden said that its i-Life range would offer "an innovative approach to one and two-bedroom living".

It is anticipated that many other construction firms will follow suit after Wilson Bowden's announcement in order to meet a shortage of cheaper housing in densely populated areas of the country.

However, the company reported a 14 per cent drop in profits from 2005 after calling it the most challenging time for the housing market.

Nevertheless, despite the fall, the firm managed to increase its full-year dividend by 22.4 per cent to 46.5p.

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