Young people across Britain are being denied their place on the property ladder because of the boom in prices over the last decade.

Now most houses simply cost too much while wages have remained all but static.

The result is a bleak picture for those on low incomes or starter salaries, made still worse by the credit crunch and the fact that banks are more reluctant to lend money than they were only a short time ago.

Housing regeneration however, brings with it a glimmer of hope for anyone wishing to own their own property. It is also a magnificent way of breathing new life into run down areas.

One such development is taking shape in Illingworth where more than £15 million has been spent transforming the Dudley estate in a partnership between Calderdale Council, Pennine Housing and Halifax-based regeneration experts Southdale Homes.

The work has involved demolishing less popular properties, building new ones in their place and on vacant plots nearby, and making improvements to remaining homes.

Three bed homes are for sale at £125,000 and split-level apartments for a more modest £90,000. Other properties are available for rent and some through a shared ownership scheme.

"Some demolition is still taking place but the project to transform the area is now well under way and should bring huge benefits to those who live there," says the council's head of housing.

Southdale Homes was involved in a huge demolition and regeneration programme on the Deighton and Brackenbed estates in Kirklees.

The benefits are plain for all to see and proof that the private and public sector can work in partnership for the good of everyone.

It has taken five years to get the Illingworth scheme to the stage it is now at. Work will finish in 2009.

The benefits to the area both in terms of its look and future prosperity are incalculable.