Work will start this year on constructing 1000 homes which will be built in Wales over the next two years.
And over the next 30 years the Welsh Government will be putting £130m towards building "quality and affordable housing.
Carl Sargeant, Minister for Housing and Regeneration says, "Building new homes is important not only in meeting the growing housing need of communities but also as a way of providing work to help people out of poverty and to counter the highly damaging effects of the UK Government's 'bedroom tax'.
More top news
Prolonged spells of sunshine this afternoon with just light winds. Clear skies tonight with a risk of frost in some rural parts.
Ian Ashley Jones, 23, tried to blackmail the woman escort and demanded £490 to pay his rent.
An off-duty police officer was riding home on his motorbike when he was mown down by hit-and-run driver Paul Wilson.