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Colne Housing welcomes Chancellor’s commitment to social housing
11th October 2007
A warm welcome has been given by one of the county’s largest housing associations to news that the Chancellor, Alistair Darling MP, has announced a doubling of investment into social housing.
Colchester based Colne Housing is delighted with the news that at least £8 billion will be allocated for the new housing supply as part of the Comprehensive Spending Review (CSR), setting Government spending levels for the next three years.
Colne’s Chief Executive, Mark Powell Davies, said: “This is excellent news for social housing and a real financial boost to the sector where we need more affordable homes for people. It is important that the East of England and in particular north Essex benefits from this announcement as we are seeing increasing house building in the area. It is vital that we develop more rented and shared ownership homes and Colne is working hard with developers to meet the demand. ”
The Government’s announcement is likely to deliver 45,000 social rented homes a year by 2011 across the UK, with an additional 25,000 per year shared ownership. This meets the industry’s request of 70,000 new homes per annum.
Colne Housing owns nearly 2000 properties in the north and mid Essex area and is one of leading housing associations in the county.
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