Builders' Merchants News

The Welsh Assembly: working towards a prosperous future.

Wales to invest £20m in affordable housing projects

Published:  26 November, 2009

WALES: The Welsh Assembly is launching a new scheme to pledge £20m towards building more affordable homes.

A total of £62m has now been made available by the Strategic Capital Investment Fund to boost the housing sector in the wake of the recession, the authorities explained.

The money will be used to provide 6500 more affordable homes.

Jocelyn Davies, deputy Minister for Housing, said: "The money will be used by housing associations to acquire and build on public land and trial intermediate rent schemes.

"Funds will also be invested in part-buy equity scheme to help more buyers onto the property market."

Members of the Welsh Assembly will work with Community Housing Cymru, the Welsh Local Government Association and the Homebuilders Federation to ensure the money is spent during 2010-2011.