Over £60 million to accelerate house building across Wales

Kyle Bright

A major uplift in funding has been announced to speed up the building of new homes across Wales, as part of a statement setting out wider progress made on housing over the current Senedd term.

The statement by the Cabinet Secretary for Housing and Local Government, Jayne Bryant MS, detailed how the investment includes an indicative £50 million for the Transitional Accommodation Capital Programme (TACP), allowing the scheme to re-open for 2026-27.

Alongside the £50 million comes an additional £11 million in repayable finance that has been made available for the Land for Housing loan scheme this financial year.

The Cabinet Secretary said: “Having a stable home is fundamental to people’s sense of security, wellbeing, and future prospects, which is why we put house building as a centrepiece of the things that we are determined to deliver.

“Despite some of the most challenging conditions the housebuilding sector has faced in a generation, including the aftermath of the pandemic, disrupted supply chains, rising material and labour costs, and prolonged high interest rates, housing delivery in Wales has remained resilient.

She added: “We promised to deliver more homes – and we are delivering.”

The funding under the TACP scheme aims to deliver housing at pace through acquisitions, conversions and refurbishment of void properties, while ensuring that the homes are of a high-standard.

The announcement has come early to allow the housing sector to prepare in advance, and to accelerate the delivery of homes.

2,700 homes have already been supported through the scheme, with a further 1,000 expected through this year’s programme.

In addition, the homes created will remain within the social housing system for the long term.

Land for Housing scheme

The £11 million made available through the Land for Housing Loan scheme, combined with recycled loan funding, will provide a total amount of £23 million this financial year.

Through this scheme, the Welsh Government hopes it will support the delivery of up to 850 additional homes by securing land sites for housing development.

Bryant has also reopened the RSL Low-cost Loan Scheme, which will contribute £36m to a scheme that is already set to deliver 4,000 improved households and 270 brand new, affordable properties.

The current Senedd term has seen social housing capital investment transcend £2 billion, including £466 million in this financial year alone.