The Homes and Communities Agency (HCA) has signed a massive deal with six housing associations that will fund thousands of new affordable homes, reports Construction Enquirer.

A healthy £68.7 million will be released to housing associations under the Affordable Housing Programme, taking the total value of contracts signed so far past £300 million.

This could spell good news for those looking for social housing jobs, as the number of affordable homes set to be built in the UK will skyrocket due to the extra cash. As a whole, 146 housing associations and developers will share funding of £1.8 billion to build 80,000 homes - a target that must be hit by 2015.

A breakdown of the funding includes Radian Housing Group's Wayfarer Partnership - providing 1,598 homes - while London's Genesis will create 285 homes, thanks to a grant of £10 million, cites Inside Housing.

In addition, Manningham Housing Association will deliver 76 affordable homes after a £2 million grant and Wirral Partnership Homes will provide 400 homes under the programme.

Colin Molton, HCA executive director for the South and South West, commented on the schemes: "This agreement is great news as it will see much needed new homes delivered and make a significant difference to the local communities in which we work."