Scotland is set to benefit from a £206 million investment in social housing.

2,700 new affordable homes will be built north of the border, thanks to remarkable investment from local councils, housing associations and private developers.

These groups managed to match the Scottish government's £55 million Innovation and Investment Fund by over three times in order to help solve what is regarded as the country's most prominent issue.

The investment will help to sustain around 3,000 construction jobs throughout the country, as well as creating a number of new supported housing jobs.

Speaking to stv.tv, Scotland's cabinet secretary for infrastructure and capital investment, Alex Neil heaped praise on all of the bodies whose investment made the scheme possible. He said: "With the public purse under huge financial strain we need radical and innovative approaches to increase housing supply at maximum value for taxpayers' money.

"We called for fresh thinking and now ideas and in response councils, housing associations and private developers have risen to the challenge magnificently."

Inside Housing reports that the investment will result in housing associations needing £13 million less in public subsidy compared to last year.

Neil is set to announce which housing associations are set to benefit from the Innovation and Investment Fund imminently.