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04/02/2009

£15m Cash Boost To Deliver Up To 300 New Affordable Homes

The Welsh Assembly Government has agreed a £15 million deal with housing associations in local authority areas throughout Wales to deliver up to 300 new affordable homes, the Deputy Minister for Housing, Jocelyn Davies AM has announced .

The £15 million is the first instalment of the £42 million extra funding that Ms Davies made available in December as part of the Assembly Government's response to the downturn in the housing market. The money will be used to buy unsold homes and plots from private contractors.

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The ambitious housing programme will not only increase the supply of affordable homes but also help liquidity in the construction industry and keep people in jobs.

The extra money will go to registered social landlords, including housing associations, in the 22 local authority areas across Wales and allow local authorities and housing associations working in partnership to respond to the current economic situation.

Ms Davies said: "I am pleased to reveal that housing associations will this year get an extra £15million to boost the creation of affordable housing in Wales. Our aim was to give a vital stimulus to the construction industry, while also helping the most vulnerable families in Wales."

(CD/JM)

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