More affordable homes in Wales wanted

The Community Housing Cymru Group has offered to invest up to £40m to increase the supply of new affordable homes in North Wales.

The property organisation wants to stimulate the North Wales economy by building hundreds of affordable homes in the region.

It has been reported that the Community Housing Cymru Group would be prepared to invest up to £250m in Wales to stimulate investment in the supply of affordable homes, including social housing and care and regeneration projects across Wales. The investment will be dependent on a continued constructive partnership with the Welsh Assembly Government between 2011-2015. 

Nick Bennett, Group Chief Executive, told Business Post: "The Community Housing Cymru group members provide mutual solutions for affordable housing, care and regeneration across Wales.

"We launched a report called ‘The Collective Entrepreneur: Social Enterprise and the Smart State', and we believe the social housing sector can lead the way to ensure we are delivering the appropriate services for the people of Wales during these austere times."

Peter Cahill, Chair of CHC, added: "Effective joint working with the Assembly Government over the past three years has seen the One Wales target of 6,500 new affordable homes being built, but over the next three years social housing grant will be reduced by nearly 50% and we need to ensure our members are providing mutual solutions for affordable housing, care and regeneration across Wales."