Affordable housing plan for Wales

12-Jul-2005

The Welsh Assembly Government has announced the development of a new scheme that should help aspiring homeowners get onto the property ladder.

Many people attempting to get a foothold on the first rung of the property ladder are often thwarted by high prices, making it very difficult when finding a deposit or finding a mortgage.

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And for that reason, the Welsh Assembly has launched a new scheme that requires council leaders to set targets for building affordable homes and say how they plan to meet them.

There are also plans to preserve some homes for locals only, thereby keeping prices down and preventing people from buying second homes in areas where first time buyers are struggling to get onto the property ladder.

In conjunction with this plan, the Assembly has revealed that it is to commission a review of all its land, to identify those areas that could be freed up for the development of affordable housing.

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An "affordable housing toolkit" has also been developed by the Assembly, in an effort to highlight the mechanisms that are available to councils to develop, expand and deliver their affordable housing plans.

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