Only half of the new homes built under the Labour Government will be for private sale, it has emerged.

New figures from Savills and the National Housing Federation (NHF) show that of the more than 1.5m houses planned over the next five years, around 750,000 will be for social housing tenants.

Savills and the NHF say up to 150,000 homes could be built each year and sold on the open market, with the other half probably build-to-rent, as well as council and grant-funded affordable homes. And the Home Builders Federation (HBF) said the Government will miss its target for the first two years of its term, and that it will have to build 350,000 to 400,000 in later years.

The Ministry of Housing, Communities and Local Government said: “We desperately need more homes which is why we have laid out clear plans to fix our broken housing system and deliver 1.5m houses in the next five years. This will include many more homes for private buyers and the biggest affordable house building boost in a generation.”