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The move is part of actions to implement the key recommendations of the Essex review into affordable housing. The independent review made a number of recommendations for change that it said were needed to enable the Welsh Assembly Government to deliver its commitment to create 6,500 more affordable homes by 2011.
One of the key conclusions of the report was that the way social landlords, (mostly Housing Associations), were regulated needed to be modernised. The consultation will look into developing an up to date regulatory framework for housing associations.
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The proposed new framework places a strong emphasis on a more rigorous annual self assessment by housing associations of their services to tenants, their financial management and their governance arrangements. It also proposes a more comprehensive performance assessment by the Welsh Assembly Government, much more clearly reflecting the risks and circumstances locally.
Ms Davies said: "I hope that by 2011 that we have a regulatory framework for housing associations that's appropriate and updated. Creating affordable housing is central to this Government's aim of ensuring strong, sustainable communities throughout our nation.
"The changes I have announced today will make improvements for tenants and local communities, and are the result of working in partnership to reduce bureaucracy and encourage innovation."
It is intended that the revised regulatory framework for Housing Associations will be in place from the 2010/11 financial year.
(CD/JM)
