The government is set to miss its target to build 1.5 million new homes over this parliament by nearly half a million homes, without funding for social housing delivery and first-time buyers, according to new research from Savills.

The Savills report, commissioned by the National Housing Federation, and supported by the Home Builders Federation (HBF), warns that there will be a shortfall of up to 95,000 new homes a year on average, if the government does not provide additional funding.

According to the findings, the quickest way to plug the gap in delivery is through targeted grant funding for social housing, including social rented homes, as part of a wider support package for social housing providers.