Housing Minister, Carl Sargeant announced funding totalling £1,909,150 for three pioneer co-operative housing pilot schemes in Newport, Cardiff and Carmarthenshire.

The Minister said: "This is a welcome step forward in delivering on the Welsh Government's commitment to develop new ways of providing housing through initiatives such as co-operatives.

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"Research by the Chartered Institute of Housing shows that households who are currently priced out of the owner-occupied sector but whose needs are not so great that they can access social housing, are keen to explore the co-operative housing model.

"As well as providing affordability, households expressing an interest in co-operative housing in each of the three pilot areas said that this stemmed from their desire to develop and live in a new community.

"These three pilot schemes have the potential to provide around 89 co-operative homes and I am pleased to say further schemes which have the potential to deliver over 400 homes across Wales are in the pipeline."

(CD/JP)