What is the Government doing to ensure that the number of new dwellings being built reaches pre-pandemic levels?
The latest New House Building Statistics in Wales show that between April 2021 and March 2022, the number of new dwellings started increased by 31% to 5,659 dwellings compared to 4,314 dwellings the previous year. This is slightly lower (by 565 homes) than the 6,224 seen between April 2019 to March 2020, pre-pandemic.
Welsh Government remains committed to delivering more homes across the whole of Wales, as signalled by our Programme for Government commitment to deliver 20,000 new low carbon homes for rent in the social sector. In recognition of this commitment, we have set records levels of investment through the Social Housing Grant of £300m for this current year and indicative draft budget allocations of £330m in 2023-24 and £325m in 2024-25. For South Wales East, this includes an increase of allocations from £43.5m awarded in 2021-22 to £67.3m in 2022-23.
Whilst our housing target focuses on social housing, we also know there is a continued need to support those who wish to purchase their own homes. Our support for market housing remains an important part of the housing solution in Wales through schemes such as Help to Buy - Wales and Homebuy – Wales. Help to Buy – Wales is also an important source of support for the housing industry, we have supported the purchase of 13,175 homes since the scheme’s inception (2 January 2014) to 31 March 2022.
We have a strong record of supporting housing development. In 2021-22, we allocated an additional £15 million across the Wales Property Development and Wales Stalled Sites Funds, bringing their respective funding totals to £54.5 million and £62.5 million. These funds support small and medium sized house builders to play a larger role in delivering the homes we need in Wales.