The government is expected to allocate £500m over the next three years to fund housing market renewal in nine pathfinder areas. Its formal announcement today on the comprehensive spending review’s allocation for housing will include the pledge, it is believed.

Brendan Nevin, senior research fellow at Birmingham University, welcomed the figure: “It would represent a credible threshold,” he said.

But the Chartered Institute of Housing was unhappy at the level of resources allocated for housing. It has urged for more than £1bn to be spent between 2003/04 and 2005/06 to regenerate declining communities and reverse failing housing markets.

Source

Housing Today