Welsh Government has confirmed in its final budget that there will be record investment in social housing.

It is part of a “total investment of over £1bn capital up to 2024-25 to support delivery of our key commitment to build 20,000 low carbon social homes for rent,” the Welsh Government said in its Draft Budget, which it has now taken forward.

On top of the £72m already committed to “accelerate the scale and pace of the decarbonisation of Welsh homes”, the final budget adds a further £35m. This is hoped to test the use of new funding models.

There’s also a £10m investment in Tai Ffres, a partnership between Welsh Government, Llamau and United Welsh. The funding will support the alternative housing pathway Tai Ffres has established for young people aged 16 to 25 who do not meet the threshold for homelessness services, or where the traditional route of supported accommodation services would not be suitable for them.

An additional £8m is being allocated to the Land for Housing scheme, warmly welcomed by housing associations.

In housing-related support, there was some adjustments due to the cost of living increases, with a £162.4m package of measures on a time-limited one year basis aimed at helping low income households to meet the immediate pressures on living costs this winter being agreed.

This includes £90m to extend the current provision of the Winter Fuel Support Scheme for a further year to run next winter.

Stuart Ropke, CEO, Community Housing Cymru, said: “The final Welsh budget is right to focus on further addressing the cost of living crisis and climate change. We also warmly welcome the extra funding for the Land for Housing scheme, in addition to the already record breaking investment in social housing.

“This sends a strong and clear message of commitment from the Welsh government, to support the sector in building safe, warm and affordable homes across the country over this Senedd period. It is the vote of confidence we were seeking.”

Rebecca Evans, Minister for Finance and Local Government said: “This budget will help Wales tackle the climate and nature emergencies while strengthening the NHS, social care, local government, the education system and a range of vital services. It is a budget for a stronger, fairer, greener Wales and one I am proud to publish.

“A three-year budget helps to puts public services on a longer-term footing, helping us recover and rebuild from the pandemic.

“Between the draft budget and the final budget we committed an extra £330m in a support package covering 2021-22 and 2022-23 to help people deal with the cost-of-living crisis.

“The UK Government’s upcoming Spring Statement is an opportunity for it to deliver meaningful support of its own to help people pay bills and put food on the table.

“Funding has been allocated to deliver the policy commitments contained within the Co-operation Agreement.”