The Welsh Government has announced the extension of three housing support schemes, including Help to Buy - Wales.
In a Written Ministerial Statement, Siân Gwenllian MS, Cabinet Minister for Local Government, Housing and Planning, confirmed a six-month extension of the homeownership scheme, Empty Homes Grant and Help to Stay - Wales.
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 - supporting the purchase of around 15,000 new homes and helping 11,000 first-time buyer households onto the housing ladder, while also generating a return to the Welsh Government of over £40 million.
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.
Harris added: "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 concluded: "While this extension will support buyers and help mitigate the short-term impact on housing supply had the scheme been withdrawn, broader barriers to housing delivery remain. 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."