Scotland exceeds target for providing affordable homes

The number of homes completed and delivered through the programme in the year to March 2014 was up 17% on the previous 12 months while approvals were up by 43%.

The latest figures also show that in the final quarter of 2013, some 3,046 private sector new builds were completed. This is the first time in four years the quarterly figure has been above 3,000.

‘These statistics show that our commitment to increasing the supply of affordable homes in Scotland is paying off and I am delighted to say we are well on track to deliver our target of 30,000 affordable homes during the lifetime of this Parliament,’ said Housing Minister Margaret Burgess.

‘But we cannot rest on our laurels. The supply of affordable housing continues to be a high priority for us and we are working with the entire housing sector to increase the supply of affordable homes and deliver vital support for construction and house building companies throughout Scotland. And to back this up we are investing over £1.35 billion in affordable housing in the four years to March 2016,’ she added.

She pointed out that it is encouraging to see that the number of private sector led completions has risen for the second year in succession and the quarterly figure is the highest for four years.

‘I hope to see that positive trend continue, supported in particular by the further boost we expect to see from Help to Buy (Scotland). Our £275 million investment in Help to Buy will bring much needed economic growth to Scotland by supporting our housing industry and creating employment opportunities,’ explained Burgess.

‘It’s clear we are making progress but we could do so much more with the full powers of independence. We would have full flexibility over budgets, investment and innovative financing to further support the supply of much needed new homes,’ she concluded.

Culled from www.propertywire.com