Posted 14.02.16
An additional £7 million investment in an innovative loan scheme is set to increase the supply of housing across Wales.
The Land for Housing scheme provides recyclable loan funding to Registered Social Landlords (RSLs) to purchase land to build new homes.
The additional £7 million allocated in the Supplementary Budget earlier this week, brings the Welsh Government's total investment in the scheme this year to £19 million.
The funding will deliver good quality housing in areas where supply is currently low, supporting the development of approximately 870 affordable homes and 70 private market homes.
The Land for Housing Scheme builds on a £3 million pilot project which ran in 2014-15 and is due to deliver approximately 200 new homes.
Finance Minister, Jane Hutt, has also announced a further £10 million for the Land for Housing scheme for 2016-17, in line with the Wales Infrastructure Investment Plan.
