The Intermediary Mortgage Lenders Association has accused the government of lacking ambition over its housebuilding targets and called for a more substantial goal to be set.

The government has pledged to deliver a million homes over the next five years, but Imla says this is the same number that has been met over the past five years and therefore ministers should be setting their sights higher.

It is also urging the government to ensure that the right types of homes are built to ensure that housing needs are properly met in different areas.

The lending body points out that just over 240,000 new homes were finished in 2018-19, which suggests the one million target could be surpassed.

Imla executive director Kate Davies says: “The new Government’s first Budget presents an opportunity to take a real stride forward in its commitment to fixing Britain’s housing market – which the Conservatives themselves described as ‘broken’ in their wide-ranging white paper (published in February 2017).  

“It’s clear Boris Johnson is bringing a ‘big thinking’ approach to policy making and major capital projects – from his thumbs-up for HS2 to rumours of a Boris Bridge – and we’re urging the Government to bring a similarly bold approach to housing.”

Davies says that getting the strategy right means committing to a long-term vision – and with its sizeable majority, the Government is well-placed to co-ordinate that vision across all departments.  

She adds: “We don’t just need more homes – we need the right size and design of well-built, energy-efficient homes, which are properly serviced by a well-planned infrastructure including roads, schools, hospitals and public transport networks.

“The pledge to build 200,000 houses a year is welcome – but the fact that that target has already been met over the last five years indicates that the government could be more ambitious.  

“We need thorough analysis of what the UK’s housing needs are going to be over the next 20-30 years – and real leadership to deliver that.”

Imla is also calling for more schemes to support first-time buyers and fill the gap left by Help to Buy.

It wants the government to avoid making any further regulatory changes to the buy-to-let sector and urges ministers to deliver more social rented homes.

Imla also wants to see a review of stamp duty across all property values.