Posted 09.01.13
Housing Regeneration and Heritage Minister Huw Lewis announced that work is already underway to meet the Welsh Government's target of turning 5,000 empty properties across Wales into much needed homes - with more on the way.
The Houses into Homes scheme, which was launched last year, provides interest free loans for property owners to upgrade properties that have been empty for more than six months, so that they can be released for sale or rent.
The scheme was the first of its kind in the UK and is providing almost double the levels of funding as the scheme which followed in England.
Less than a year into the scheme, 150 loans have been approved and 80% of the homes already being worked on will be used as rented accommodation, providing a much needed boost to the availability of property in the private rented sector.
The scheme is adding to the 2,000 empty properties already brought back into use in Wales during this term of government.
Speaking in the Senedd, the Minister updated Assembly Members on progress to date with the £10 million Houses in Homes programme, which is administered by Local Authorities on behalf of the Welsh Government.
Almost all local authorities in Wales are now running a scheme and approximately £3 million of the funding has already been drawn down by them. The remaining £7 million will be fully allocated by the end of the 2012/13 financial year.
The programme is also emerging as a model of regional collaboration with local authorities working together in six regional groups, to share resources and expertise.
