Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Scottish Gov to finance housing developments

Scottish deputy first minister Nicola Sturgeon revealed that accelerated investment of £9 million, which will finance a string of housing developments across Scotland.

The funding will allow housing associations to purchase unsold stock from the private sector, increasing the availability of much needed affordable housing.

Ms Sturgeon said: "We are taking decisive action, within our powers, to help alleviate the brunt of the credit crunch on developers, and assist the delivery of more affordable homes.

"Housing associations will be able to buy off the shelf stock from the private sector. It will help the hard pressed construction industry and increase much-needed affordable housing.”

The funding will support projects across Scotland:

• £3.5 million will help accelerate site starts/construction on five projects in Highland, Stirling, Fife, West Lothian and South Ayrshire
• £4.1 million to fund land purchase by housing associations for future developments in Orkney, Perth & Kinross, Falkirk, East & West Dunbartonshire, and Argyll
• £1.4 million to fund purchase of suitable unsold stock from the private sector in Falkirk and Perth & Kinross