The number of market homes being built in Wales continues to broadly align with our estimates of housing need and demand. So, this suggests we are building approximately the necessary amount. But we must acknowledge that they're not always being built in the right places, and that is something we are working on. And we undoubtedly need to build more social homes for rent in Wales, and we've made a clear commitment to build 20,000 new low-carbon homes for affordable rent.

Our target goes beyond estimates of housing need, and it's right that it does. It will also build on the strong foundations laid during the last term of our Government, building homes for the future—well-built, climate-secure homes. As a Government, we are proud of the steps we have taken in the previous Senedd term to protect existing social housing stock and to build new homes. We exceeded the target we set to build 20,000 homes, delivering, in fact, 23,061 homes. And unlike in England, we ended the right to buy, to give landlords the confidence to invest in new social housing without the fear it will be sold from under their feet within a short time, and this is not something that we're looking to reinstate. 

But, while social housing is the priority, we will ensure developments deliver genuinely mixed tenure across the whole spectrum of tenures, from owner-occupying housing and shared ownership to social sector homes for rent that people can afford. And we've been clear that our support for market housing is an important part of our toolkit, but that it is in addition to our support for social housing. And this target is challenging, and there are several factors that could impact its delivery. These include increased costs of building materials and a lengthened supply chain for a number of imported construction materials. 

We have worked, I'm pleased to say, and continue to work with registered social landlords, local authorities and contractors to mitigate these risks, and we've provided additional funding to help meet the unprecedented increase in material costs. In fact, we've matched our commitment to deliver 20,000 new low-carbon homes for rent with a record budget of £250 million to the social housing grant for this financial year, doubling the budget from the year before. And our final three-year budget, published on St David's Day, further underpins this with record levels of funding allocations of £310 million in the next financial year, £330 million in 2023-24, and £325 million in 2024-25. Now, we rely on social housing partners to deliver the homes Wales needs, and to the standards we can be proud of, and I want to build on the strong working relationships that have flourished under our joint commitment to deliver social housing in the last two Senedd terms, and discussions are ongoing to finalise a tripartite agreement—the housing pact—with sector-representative bodies to support our ambitious target. 

As we all know, housing is a multifaceted area, and we are taking a number of broader actions that will support house building in Wales. Through our co-operation agreement with Plaid Cymru, we have confirmed our ambition to establish a national construction company, Unnos, to support our councils and social landlords to improve the supply of social and affordable housing. And we've also committed to the publication of a White Paper on proposals on fair rents and a right to adequate housing. We recognise there are instances where rent controls have not worked as intended. There's a need to consider, of course, proposals on rent control very carefully and ensure any proposals are consulted upon widely, and we'll be engaging with partners fully on the White Paper later in the Senedd term. 

Fast-paced action has also been taken in line with our three-pronged approach to second homes—taxation, system change and practical support. We've announced the changes we intend to make in the upper limits of discretionary council tax premiums for second homes and long-term empty properties, an area Members rightly highlighted as being of concern to us all, as well as to the thresholds for non-domestic rates. These will help ensure a fair contribution is made through taxation, and for holiday lets—that they make a clear contribution to their local economies.

Our consultation on groundbreaking proposals for the planning system has recently closed, drawing an extremely large response rate, as did the consultation for the Welsh language communities housing plan. And we are also consulting on local variation of land transaction tax—together, a bold and radical package that promises to deliver far-reaching change.

Over the last nine months, Dirprwy Lywydd, I believe that, as a Government, we have demonstrated our appetite to take clear steps to tackle one of the biggest problems we face here in Wales. And while we reject the opposition motion, tabled by the Conservatives, we are open genuinely to work with Members across the Senedd to provide homes that the people of Wales need and deserve. Diolch.