Welsh Government pledges extra £10m to deliver even more affordable homes
|
An additional £10m has been made available by the Welsh Government
to help kickstart the development of new affordable housing schemes
across Wales. The additional funding contributes to a
broader package of investment secured with the aim of delivering
more homes for people across Wales, a key priority for the Welsh
Government. 16 schemes that are ready to start work have been
identified and this investment will see the delivery of 238 new
homes. The...Request free trial
An additional £10m has been made available by the Welsh Government to help kickstart the development of new affordable housing schemes across Wales. The additional funding contributes to a broader package of investment secured with the aim of delivering more homes for people across Wales, a key priority for the Welsh Government. 16 schemes that are ready to start work have been identified and this investment will see the delivery of 238 new homes. The funding will be used to acquire properties and land where homes will be developed and completed. A further £30m from the Social Housing Grant in the 2025-26 Budget will also support the schemes. The Cabinet Secretary for Housing and Local Government, Jayne Bryant, said: “I am delighted that we have secured this additional in-year funding to invest in good quality affordable housing, providing opportunity for individuals and families across Wales. “We know that investing in social housing reduces poverty, improves health and helps drive economic growth and I recognise the need for the delivery of more homes now and into the future. “This is why I'm also making the additional budget awarded in 2025-26 available to be used across both the Social Housing Grant and Transitional Accommodation Capital Programme.” This will be used to support the delivery of additional homes, contributing towards the Welsh Government's target of 20,000 new low carbon social homes for rent in the social sector during this Senedd term. It will also support homes approved and started in 2025-26 and completed in the next Senedd term. The Cabinet Secretary continued: “Following the huge success of TACP, I am pleased to formally announce the 2025-26 TACP will reopen with an indicative allocation of £100m. “We have listened to feedback on the first three years of delivery and this early announcement is intended to provide advance notification to the sector that the programme will be reopening for applications early in the new financial year.” ENDS Notes to editors The additional £10m of funding will be allocated in the 2024-25 financial year.
|