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The demolition of Swansea City's former home, the Vetch Field, has moved a step closer with the approval of £700,000 funding to redevelop the site.

Deputy Housing Minister Jocelyn Davies announced the package, saying it would kick-start regeneration in the area.

The ground has lain derelict since the Championship club moved to the Liberty Stadium four years ago.

The development aims to provide more affordable housing and green recreational space for Swansea.

The funding comes directly from the Welsh Assembly Government and still needs the backing of Swansea council.

It will be repaid with any future income the site generates so the cash can be redistributed to other projects.

Ms Davies said: "Although the demolition of the Vetch will be a sad day for some, the site has effectively been derelict since the Swans moved to their fantastic new home at the Liberty Stadium.

"The cost of demolishing the site has so far prevented the land from being used for much needed affordable housing and green space in the area so I am delighted that the funding I have announced will mark the first step in creating vital new amenities.

"Regeneration is all about making the most of what an area has to offer and working with local communities to identify and work on their priorities. The site is in a prime location to provide exactly what the community has asked for."

Swansea council leader Chris Holley said the package marked "a big step in the right direction".

The £700,000 comes on top of more than £3m from the Swansea Regeneration Area programme to fund projects in the city centre and the waterfront area.