Work on over 12,000 homes is to begin again after they were stalled by the housing crash in 2008.

The government has invested over half a billion and ministers have published a shortlist of over 160 smaller housing developments that could benefit from the Builders Finance Fund.

The £525m funding will accelerate construction on the first wave of sites with potential to support nearly 13,000 new jobs.

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Ministers said that with high demand for the fund, more developers will be invited to put forward their bids over the coming months as part of a rolling programme to unlock homes.

Chancellor George Osborne said: "I am pleased to see progress with the Builders Finance Fund which will help unlock thousands of stalled housing units by providing house builders with access to finance.

"The government's long term economic plan is supporting businesses who are creating job opportunities, and in this case, building homes for hard working taxpayers up and down the country."

(CD/IT)