2,000 new homes to be built

The Welsh Government’s innovative Housing Finance Grant is set to triple, delivering an extra 2,000 social and affordable housing units, thanks to a £250m extension of the scheme, Finance Minister Jane Hutt has announced.

The Housing Finance Grant was first launched last September. With the assistance of the Welsh Government, 19 Welsh Registered Social Landlords (RSLs) have worked together to secure a new source of finance for the sector.

The extra investment in the Housing Finance Grant will create over 5,000 jobs and the new scheme should become operational by 2017-18.

This latest announcement means that innovative funding investments agreed since the launch of the Wales Infrastructure Investment Plan will create around 30,000 jobs during the short term construction phases. The Wales Infrastructure Investment Plan has already steered almost £3 billion of new capital investment into the Welsh economy and public services, since its launch in 2012.