Delivering his Autumn Statement today, George Osborne said: “We want to regenerate some of our most run down urban housing estates.
“Councils will sell off the most expensive social housing, so they can house many more families for the same money.”
The Autumn Statement document said that the government will “explore options for kick starting the regeneration of some of the worst housing estates through repayable loans”.
The chancellor also announced that the government will create a £1 billion, six-year programme to fund infrastructure to unlock new large housing sites.
The Autumn Statement document said: “This will support the delivery of around 250,000 homes. The programme will begin in 2014-15, with investment decisions on 9 specific sites, capable of unlocking around 27,000 houses.
“£50 million of this will be earmarked for Local Enterprise Partnership supported bids, to deliver on their ambitions for housing growth.”
Autumn Statement 2013 is available here.