Shared equity home ownership and re-starting building work on stalled housing developments are two key areas to benefit from £20 million in extra Welsh Assembly Government funding.

This makes a total of £62million that has been provided from the Strategic Capital Investment Fund in response to the impact on housing of the recession.

Jocelyn Davies AM, unveiled details of where the cash will be used to help provide more affordable housing on a visit to Chepstow, to celebrate Melin Homes’ now completing more than 3,000 homes.

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Ms Davies said: "This new capital funding will help us in our One Wales commitment to provide 6,500 more affordable homes. This aim remains a key commitment and we must not shy away from it even in a recession.

"I was delighted to announce in July this year that at the half-way point in the One Wales Government we had already created 3,252 affordable homes, more than 50% of this target.

"Given the current economic conditions this is particularly impressive.

"Our funding will make the most of opportunities to increase housing demand and take advantage of new properties and land, bringing with it added benefits of helping maintain employment in the building industry."

(CD/BMcc)