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  1. ITV Report

New £40m fund launched to encourage housebuilding on stalled sites across Wales

Credit: PA

The Welsh Government has announced a new multi-million pound fund to support small and medium sized builders develop sites where progress has stalled.

The £40m loan fund has a four year repayment term and will be used to help builders on stalled sites. Sites across Wales stall for a variety of reasons, from pre-development works to difficulty in securing funding. In 2015, there were 400 sites where progression had been halted.

Housing and Regeneration Minister Rebecca Evans says the fund will be good for the economy.

We know that supporting small and medium-sized builders has a knock-on effect on the local economy, as they in turn use local suppliers to source materials and skills. We are committed to delivering 20,000 affordable homes in Wales during this term of government, and SME builders are key to helping us achieve this. By supporting them to develop more sites, we won't just be supporting them to increase the supply of housing, but to grow their businesses, support more skilled jobs and contribute to the local economy.

– Rebecca Evans AM