The Stewart Milne Group has secured a credit facility worth £225m to support the building of more than 5,000 new homes, it has been reported.

According to the BBC, the homes will be constructed in Scotland and the north west of England over the next five years.

The company, which is based in Aberdeen, said demand was "on the rise", with confidence in the construction sector improving.

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It added that the Government's new 'Help to Buy' scheme was assisting in the increase of the supply of new homes. The firm is planning to open 12 new developments in Scotland and England in the next year.

It is understood the credit facility has been arranged with Bank of Scotland.

Its area director Mark Prentice is quoted as saying: :"We know that the property sector has seen a turbulent few years.

"However, it seems that Scotland's housebuilding sector is now responding to positive signs in the housing market and a notable shift in optimism for growth.

"There is also a strong and ever increasing demand for quality and affordable housing across the country, and with Stewart Milne Group's base in north west England, they are well positioned to deliver that growth."

(JP/CD)