The home building industry has welcomed details of the £9m housing investment announced yesterday by Deputy First Minister Nicola Sturgeon which will enable housing associations to purchase completed and part-completed stock from the private sector.

This represents the second tranche of funding from the £100m being brought forward within the Scottish Government’s Affordable Housing Investment Programme, part of a package of measures designed to enable private developers and housing associations to work together to increase the provision of homes across Scotland.

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Jonathan Fair, Chief Executive of Homes for Scotland, the organisation which represents companies building 95% of the country’s new homes, said: "Coming on the back of John Swinney’s statement to the Scottish Parliament yesterday that consequential additional funding for the Scottish Government announced in the Pre Budget Report will be used to advance investment in housing and regeneration, this is a very welcome step forward - immediately increasing the availability of affordable housing and supporting an industry which is so vital to Scotland’s economic and social well-being.

"The Scottish Government has listened and now acted decisively in announcing how just over half of the £30m available from the accelerated funding programme in 2008/2009 will be spent. We therefore urge Ministers to continue this momentum by announcing how the balance will be allocated before Christmas to ensure maximum impact and effectiveness ahead of the end of December which is the vitally important financial year end of many developers."

(GK/KMcA)