The latest government housing development has been officially opened this morning (Wednesday).

Ballacubbon in Colby features six first-time buyer houses and six rental properties for older people.

There was a ceremony to mark the occasion at 10am, when some new residents were welcomed to their new homes.

The development at Ballacubbon has taken 12 months, and the Department of Local Government says each of the new homes has been built to standards of space and quality defined for affordable homes. The average purchase price of the properties is less than ?150,000.

Minister John Shimmin says at this time of global financial instability it's especially important the Isle of Man is able support local people by ensuring there are homes for them to live in at prices they can afford.

This morning there's been a presentation to some of the new residents and a standing stone unveiled by the member with responsibility for housing Juan Watterson MHK.