An affordable housing bonanza is under way, Chief Secretary to the Treasury Danny Alexander suggested, which he said would be "truly transformative".
He said the coalition's Help to Buy scheme was already helping to get people on to the property ladder, but he acknowledged more needed to be done.
This spending round also funds more than 2,500 new homes specifically designed for older and disabled people and £160 million for decent homes, mainly in London.
The most ambitious and significant investment in affordable housing for a generation.
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