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
Retired game-keeper Raymond Arthur Evans’ passion for guns landed him in hot water. Nursing home staff even found a pistol in his room.
RSPCA Cymru says it's worried about a rise in reports of pets being poisoned. Here's the charity's advice on how to keep your animals safe.
Brian, 85, and Shirley, 80, plan to pose side by side on the church steps to recreate their cherished black and white wedding photo.