Recently, governments across the UK have been called upon to find ways to help the housing crises, especially as so many people are struggling to get on the property ladder or find a property that they can afford to rent. Landlords are already trying to alleviate the problem by expanding their portfolios, investing in more buy-to-let properties, and trying to keep costs down by making sure they get the best deal from their letting agencies or landlord insurance providers.
The good news is then that the Scottish government announced yesterday that they are planning on putting aside thirty eight million pounds for the housing sector in the 2013-2014 budget, ten million of which will be used to create more affordable housing for the Scottish public. Not only this, part of the funding will also go towards improving the energy efficiency of houses in Scotland, meaning that tenants will benefit from cheaper utility bills and the government will get closer to achieving their climate change targets.
Scottish Finance Secretary John Swinney said: “This government is using every available opportunity to boost economic growth. An additional £38m for housing will take our investment in new affordable housing to £830m, and will also see increased investment in housing energy efficiency to help tackle fuel poverty and meet our carbon emission targets. Deputy First Minister Nicola Sturgeon was also happy with the plan and said: “Investing in affordable homes supports Scotland’s economy, promotes growth and maintains jobs in our construction industry.”
“It is estimated that this £38 million package will enhance the energy efficiency of 8,000 new and existing homes, fund 2,000 adaptations to help older and disabled people live independently, and deliver 350 new affordable homes. The Scottish Government attaches a real importance to delivering new housing, to the quality of our housing, and to what housing investment does for the economy.”
With the £38 million increase in funding for housing, the Scottish government should also manage to exceed its housing target of thirty thousand affordable homes over the lifetime of the Scottish Parliament’s current session. Last year the Scottish government announced that they would spend £40 million in the housing market, which has been spent during this financial year.