Welsh Housing Initiative Delivers Rental Homes
The Welsh Housing Partnership initiative has bought more than 400 properties across the whole of Wales with more £46 million of investment. This allows hundreds of families to live in high quality rented homes for an affordable price.
Principality Commercial will also fund £10 million for the next phase of the scheme, which will help the initiative reach their target of £100 million of investment by 2015.
This means that hundreds of families in Wales who were struggling to find somewhere decent to live, let alone get on the property ladder, will be able to rent homes affordably and have the confidence that their homes will be maintained properly.
The initiative is also consistent with the welsh government’s commitment to doing more for less. Whilst the welsh government has played a pivotal role, the other partners in the scheme have all made considerable progress to secure the results so far.
The four year initiative sees Coastal Group, Hendre Group, Seren Group and Cymdeithas Tai Clwyd working together to buy affordable homes for people to rent as one under The Welsh Housing Partnership.
The partnership will purchase another 500 homes by 2015, aiming to provide homes for almost 1,000 families. Ian Williams, chair of the Welsh Housing Partnership has said,
“We recognised the need to supply quality affordable homes for families in Wales who can’t afford to buy their own and by working in partnership, rather than in isolation, we are able to support many more families throughout the country.
“Together we are able to share our extensive experience in the housing market to offer long term quality rental packages to tenants who are keen to rent one of these affordable homes in Wales and we hope that in the next few years we will be able to extend this offer to hundreds more families.”