Latest news : £225m pledge for building projects

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The UK government promises to restart stalled housing projects and build some 50,000 homes in 2013 as part of a move that could create new construction jobs. 27/11/2012

Speaking at the National House Building Council (NHBC) , deputy prime minister Nick Clegg pledged £225million of government money to tackle the severe housing shortage that currently exists and to help boost the economy.

The announcement comes ahead of chancellor George Osbourne's autumn statement, and after calls from businesses and housing organisations to create jobs and stimulate growth by building houses.

He went on to encourage builders to draw inspiration from ambitious modern settlements and garden cities and suburbs such as Milton Keynes, Welwyn Garden City and Letchworth Garden City.

Mr Clegg stated, 'Unless we take radical action we will see more and more small communities wither, our big cities will become even more congested as we continue to pile on top of each other.

'The lack of supply will push prices and rents so high that - unless you or your parents are very rich - for so many young people living in your dream home is going to be a pipe dream.'

The latest development could be of major interest to those considering a career in property or construction but who have become concerned about a lack of work in the sector.