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
The Pride of Britain Awards are less than a month away, and today we find out who'll represent Wales in the Fundraiser of the Year category.
Police are appealing for information following a sexual assault on a 29 year old woman that took place in Pontllanfraith.
The personal tragedies and triumphs that have shaped his life. Terry Yorath: Life on the Edge, ITV Cymru Wales on Monday, 23 October (8pm).