The Scottish government has announced that the number of affordable homes being approved is at its highest level for over 30 years.
Over £1.75Bn will be invested over the next three years to enable local authorities to plan and deliver the affordable housing needed in their communities, delivering the ambitious target of at least 50,000 affordable homes by 2021.
Statistics show there has been a 29% rise in approvals this year compared with last, with 10,276 affordable homes being approved in 2016-17.
Finance Secretary Derek Mackay said: “Earlier this year, I secured a budget that saw investment in public services on a massive scale, support for our economy and help for those on low incomes. By providing the planned resources for the next three years our local authorities can plan high–quality, energy efficient and affordable homes. This important investment provides a further boost to the construction industry – supporting the economy and an estimated 14,000 jobs each year. We are currently seeing the highest levels of activity in the affordable house-building sector since the early 1980s. With affordable site starts and completions increasing, this represents an excellent pipeline of projects across Scotland. We have committed to year-on-year increases in funding for affordable homes, to be shared by local authorities – from £532Min 2018-19, to £591M in 2019-20, rising again to £630M in 2020-21. This is the first time councils have been given full allocations for affordable housing beyond the current financial year, providing certainty over several years to enable them to ramp up their delivery plans.”
Source – UK Construction Online