The Welsh Government has announced a £24 million loan fund to unlock land for housing development, paving the way for more than 600 new homes across Wales.
The funding is designed to support both social and market housing projects by enabling land acquisition ahead of construction grant availability.
This strategic investment ensures that viable development opportunities are not missed due to early-stage funding gaps. Once construction funding is secured, the loans are repaid and reinvested into future projects—creating a sustainable cycle of housing delivery.
The loan fund is already making a tangible impact. Wales & West Housing previously received £3 million to acquire land in Grangetown, Cardiff, which was followed by £10 million in grant funding to build 100 affordable homes for social rent. The development at Ffordd Yr Haearn offers a mix of family housing in a prime location near Cardiff city centre, with excellent access to local amenities.
Cabinet Secretary for Housing and Local Government Jayne Bryant recently visited the site and met with tenants who moved in between September 2021 and autumn 2022. She praised the development for meeting local housing needs and contributing to the government’s broader housing ambitions.
Commenting on the move, Bryant said:
“I'm incredibly proud of how our Land for Housing scheme is making a real difference to people's lives across Wales.
“When we invest in schemes like this, we're not simply buying land – we're investing in brighter futures for hundreds of people.
“I was so pleased to meet the residents at Ffordd yr Haearn and see firsthand how this funding has created not just houses, but genuine communities where people can put down roots.
“The scheme has also been instrumental in helping to build a strong pipeline of land sites, many of which contribute to our ambitious goal of 20,000 new low carbon social homes during this Senedd term.”
This initiative is part of the Welsh Government’s commitment to tackling the housing crisis, supporting economic growth, and ensuring communities have access to high-quality, affordable homes. By focusing on early-stage land acquisition, the fund helps accelerate the delivery of much-needed housing across the country.
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