Housing developments across the country will be kick-started by the government's extension of the HomeBuy Direct scheme announced today (March 9th).
Low cost housing construction that was delayed by the recession is set to go ahead with additional government funding of £83 million.
Nearly 5,700 new homes will be built in developments in every region of the UK.
The money has also safeguarded around 1,700 jobs in the construction industry that could have been lost through the stalled projects.
Developers have been told to commit to get workers back on site by this time next year, though almost a quarter have said that they will have workers constructing homes by the end of this month.
Some of the sites receiving the money include City Point in Derby, Hardwick Green in Stockton-on-Tees and Crediton Road, in west Devon.
Housing minister John Healey has said that more than 2,200 first-time buyers will benefit from the scheme, which the government has made clear is 'not a handout'.
HomeBuy Direct allows first-time buyers to claim an 'equity loan' of up to 30 per cent on the cost of a home.
See Also: Property News (5994)
Date Published: 09 March 2010
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