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Social conscience

FINANCE City Site

THE STRING of government initiatives under way aimed at increasing the supply of affordable housing for key public sector workers may provide some relief for house builders facing a slowdown in the private market. Unveiling results last week, Crest Nicholson chairman John Matthews pointed out that public bodies recognised a need for more reasonably priced housing.

Crest's housing association turnover rose by a third last year to £28.4 million and the firm reckons its sales to the sector will double by 2004.