Jayne Bryant MS, Cabinet Secretary for Housing and Local Government
I am delighted to have secured an additional £10m of in-year capital funding to deliver more homes. This contributes to a broader package of investment secured with the aim of ensuring more homes for people across Wales.
One of this Government’s key priorities is opportunity for every family. We know that investing in social housing reduces poverty, improves health and helps drive economic growth. Good quality affordable housing can provide opportunities for every individual and family, positively impacting upon health, mental health, and education outcomes.
That’s why it’s so important that we deliver as many homes as we can, as quickly as possible. We’re already taking action, with record levels of investment. So far this Senedd term we have delivered nearly 9,000 more homes for rent in the social sector. Sector projections still tell us that there is a strong pipeline of schemes to deliver more homes during this Senedd term and into the next.
My officials and I have been working with delivery partners to understand the pipeline of schemes, identify any barriers to delivery, and pinpoint the actions that can be taken to ensure the delivery of as many schemes as possible.
The extra in-year £10m will support 16 schemes across Wales, delivering 238 homes before the end of this term of government. The funding will be used to acquire homes from developers and land where homes will be developed and completed in 2025-26. A further £30m from the Social Housing Grant (SHG) 2025-26 budget will also support the schemes.
Our draft budget for 2025-26 further demonstrates our unwavering commitment to delivering more homes by maintaining our record levels of funding for social homes. I have allocated an additional £81m for more homes through both Social Housing Grant and Transitional Accommodation Capital Programme, taking our total budget for 2025-26 to £411m.
This will be used to support the delivery of additional homes, contributing towards the Welsh Government’s target of 20,000 new low carbon social homes for rent in the social sector during this Senedd term. It will also support homes approved and started in 2025-26 and completed in the next Senedd term.
Following the success of TACP, I am delighted to formally announce the 2025-26 TACP will reopen with an indicative allocation £100m. We have listened to feedback on the first three years of delivery and this early announcement is intended to provide advance notification to the sector that the programme will be reopening for applications early in the new financial year.
I am proud of the Welsh Government’s commitment to delivering more homes for people across Wales. I remain committed to doing all that I can to deliver this important agenda for the people of Wales.