WORLD PROPERTY CHANNEL ®

One of the UK's leading home builders has secured funding from the Homes and Communities Agency to build 1,985 affordable homes across England over the next three years.

Persimmon Homes has been awarded funding of £20.64 million to build the homes as part of the Government's National Affordable Housing Program (NAHP).

Persimmon Homes is the first major home builder to be awarded the funding, which is designed to increase the supply of affordable homes in England.

Dr Ashley Lane, group partnerships director for Persimmon Homes, said the funding was great news for both the business and local communities across England. "Construction will begin in 2012 and we are currently evaluating a number of schemes throughout England.

"Our objective is to engage with local authorities and housing associations to deliver low cost homes for both shared ownership and social rent."