Wales needs 50% of its future homes to be affordable to meet projected need, Community Housing Cymru (CHC) says.
CHC bases its percentage on the latest Welsh Government housing need stats showing, under the central estimates, an average of approximately 4,400 market housing units and 3,900 affordable housing units would be required each year from 2018/19 to 2022/23.
“These figures show that to meet future housing need in Wales, nearly 50% of the homes we build must be affordable. This is a high watermark and outlines the scale of the challenge we face,” said Aaron Hill, CHC Public Affairs Manager.
“Housing associations have huge ambitions to build a Wales where good housing is a basic right for all, and the Independent Review of Affordable Housing Supply in Wales identified the need for further investment to deliver the homes Wales needs.
“As Welsh Government considers their future capital investment decisions, we want to work with them to building sustainable communities which put affordable housing at their heart.”
Under the different variants of household projections, the stats show the annual estimated requirement of market housing units ranges from 3,400 (zero migration) and 5,200 (10 year migration) each year.
Affordable housing units range from 3,300 (zero migration and lower variant) to 4,400 (10 year migration).
Under the central estimates, an average of approximately 4,400 market housing units and 3,900 affordable housing units would be required each year from 2018/19 to 2022/23.
These estimates suggest that on average, under the central estimates, 53% of additional housing units should be market housing with the remaining 47% affordable housing (intermediate rent or social) throughout 2018/19 to 2022/23.
Under both 10 year migration and the higher variant the proportional split of additional housing units is 53% market and 47 per cent affordable.
Under zero migration and the lower variant, the proportional split of additional housing units is 51% market housing and 49% affordable housing.
- The Welsh government has confirmed a revision to the stats as follows: “Under both 10 year migration and the higher variant the proportional split of additional housing units is 54% market and 46% affordable.”