Government announces new housing grants
In news that could provide a boost for first-time buyers, the
government has announced new funding grants for areas in the
north-west of England to bolster plans for new housing.
The region will get £31.6 million over the next two years,
with local authorities in Greater Manchester taking the largest
While the ten authorities will split £12.2 million between
them, Liverpool and the Wirral will share the second largest grant
at £6.3 million.
Commenting on the move, housing minister Margaret Beckett said: "In
these difficult economic times we must not lose sight of the
long-term need to build more homes."
Those with the most "ambitious" housing strategies have been
targeted to receive the bulk of the funds.
As well as having the most grant money, Greater Manchester may also
receive a boost from seeing the value of property rise in areas
that gain new transport links.
Plans for a major expansion of the public transport system in the
area are linked to congestion charge proposals, with postal voting
in a local referendum on the issue currently taking place.