The Welsh Government has announced plans to extend three housing support schemes: Help to Buy, Help to Stay and the Empty Homes Grant
In a Written Ministerial Statement, Siân Gwenllian MS, Cabinet Minister for Local Government, Housing and Planning, confirmed a six-month extension of the homeownership schemes.
Mark Harris, planning and policy advisor for HBF Wales, said: “Home builders are operating in extremely challenging conditions, with market uncertainty and affordability constraints continuing to impact housing delivery; therefore, the Welsh Government’s decision to extend Help to Buy Wales is warmly welcomed.”
Help to Buy in Wales has helped over 10,000 buyers get on the property ladder
Help to Buy – Wales will continue until 31 March 2027, giving up to 400 more households the opportunity to purchase a new build home with a smaller deposit.
Since its introduction a decade ago, the Help to Buy – Wales scheme has played a significant role in increasing access to home ownership.
It has supported the purchase of around 15,000 new homes and helped 11,000 first-time buyer households onto the housing ladder, while also generating a return to the Welsh Government of over £40m.
“Builders can only build if buyers can buy; therefore, as the country continues to face a housing shortage and delivery remains well below historic levels, maintaining support for homeownership is critical,” Harris commented.
Working with Wales to address the broader barriers to housing supply
Last month, HBF released a report detailing how increasing Welsh housing supply could unlock huge opportunities for local economies and public services.
Whilst the Welsh Government has set a target to deliver 20,000 new social homes by 2030, there is a lack of focus on delivering private housing, despite Wales requiring an additional 23,000 market homes during this Senedd term to meet housing need.
Neil Jefferson, chief executive of the Home Builders Federation, said: “The findings show that the benefits of building homes go far beyond boosting housing supply.
“Home building creates jobs, supports local businesses, delivers vital community infrastructure, generates significant tax revenues and helps provide the affordable homes that Wales needs.”
Harris added: “While this extension will support buyers and help mitigate the short-term impact on housing supply had the scheme been withdrawn, broader barriers to housing delivery remain.”
He concluded: “We stand ready to work with the Welsh Government to address these constraints and ensure home builders can deliver much-needed homes for communities across Wales.”
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