The much anticipated Measure will also provide Welsh Ministers with a broad range of intervention and enforcement powers that are essential to strengthen the regulation of Registered Social Landlords.
Introducing the Measure was made possible after the Housing and Local Government LCO gained Royal Assent in July this year.
The Deputy Minister for Housing and Regeneration, Jocelyn Davies AM said:
“We are making progress in increasing the supply of affordable housing, but demand is still very high and we therefore need to ensure that we continue to do all we can to address this shortage
“A very broad range of intervention powers is required to maintain the rigour and credibility of the regulation of Registered Social Landlords in Wales. This will help the housing sector by ensuring that lenders’ confidence in Registered Social Landlords in Wales is maintained so that they are prepared to continue to invest in the sector.
“Providing social landlords with a period of grace in areas of housing pressure through temporarily suspending Right to Buy, will allow time for much needed work to take place to increase the supply of affordable housing in Wales.
“It has taken us a long time to reach the stage where are able to introduce this Measure. Getting to this point has required a great deal of co-operation with our partners in the housing sector who have all contributed to the process. I am delighted that we are finally able to bring this legislation forward for the people of Wales.”
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