Caroline Flint has unveiled a range of initiatives designed to assist with the delivery of affordable homes during the current downturn in the financial sector, it has emerged.

Moves by the housing minister have seen it allocate an additional £270 million to the Housing Corporation in order to deliver some 3,800 social rent and 1,500 shared ownership properties during the next three years.

In addition, a national clearing scheme has been set up in which developers can sell their unsold land to the Housing Corporation to be used to social or affordable housing.

Ms Flint said: "There is an overwhelming case for building more housing and we must remain as ambitious as possible.

"But we also have to be flexible and responsive enough to adapt to the current economic climate."

Such news may be of interest to those with jobs in housing.

Earlier this week, it was revealed that housing consortium Quantum had surpassed the targets it had been set by the Housing Corporation to construct affordable homes over the course of 2007-08.

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