MORE than £4 million has been set aside to build much-needed affordable homes.

Housing Minister John Healey announced that East Devon will receive £4.5 million to finance 91 properties — 27 low-cost homes for sale and 64 for rent.

The cash forms part of a funding package of nearly £500 million to build around 8,000 affordable homes across the country.

More than 3,000 of these new homes are expected to be available through the Government's HomeBuy schemes, offering first time buyers a helping hand onto the property ladder.

And nearly 5,000 homes will be available for affordable rent through housing associations.

The Government points out that since last June it has approved more than £3.3 billion in funding for nearly 60,000 new homes.

As well as going to housing associations, this cash has been used to help developers kick start stalled projects and get house building back on track, and to fund the largest council house-building programme for two decades.

But Mr Healey has insisted that as a condition of the cash, there is a requirement on housing associations, developers and councils benefiting from the funding to provide more local job and apprenticeship opportunities.