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Government injects £230m into Manchester housing market
03/03/2008
Funding worth £230 million has been granted by the government to revitalise the housing market in Greater Manchester.
Plans to restore "stable communities" in west Manchester, Oldham and Rochdale are part of a £1 billion national scheme known as the Housing Market Renewal programme.
Manchester will receive £140 million over the next three years, while Oldham Rochdale Partners in Action will be granted £90 million for the same period.
Housing minister Iain Wright said: "The Housing Market Renewal Programme has been vital for restoring confidence in some of the most disadvantaged areas of the country.
"This substantial funding ... will help the market renewal areas take forward their ambitious programmes to bring real change to places which only five years ago were facing decline."
The Housing Market Renewal programme was established six years ago to tackle problems of housing market failure in places where prices had collapsed and large numbers people were moving out of the area.
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