The two main political parties have already expended much effort in demonstrating their differences. One area in which the clear blue water is, well, clear, is in housing.

In October 2014, Labour’s shadow housing minister, Emma Reynolds backed the Lyons Housing Review for a national target for house building of at least 200,000 homes. Ms Reynolds talked specifically of tackling high housing costs and, with an eye on the £9.3 billion currently going to private landlords in housing benefit, introducing ‘rent ceilings’ for private rented homes.

Brandon Lewis, the Conservative incumbent on the housing brief, eschews all talk of re-introducing targets and ‘the shackles’ of a top-down approach. Rather, if re-elected, his party would continue ‘supporting house building of all tenures’ and policies to boost home ownership.

One area of agreement is on the need to do more with the country’s existing supply of public sector land. Our research suggests that public land could deliver two million homes across England. We would hope that whichever party forms a government on 8 May, it sees the potential in making the most of the assets the country already owns.

We would also advocate a focus on unlocking through mergers – hostile if necessary – the development capacity on the balance sheets of many sleepy English housing associations. There have been a few such mergers in recent years where value has been realised.

But the responsibility is not all on housing associations. As our initial public land research highlighted, local authorities hold developable plots that could deliver around one million homes. This could be bolstered with the £20 billion of additional balance sheet capacity there is in the housing revenue accounts of stock-owning councils.

It is unlikely that the Treasury, under either the Tories or Labour, would sanction such additional debt on the UK balance sheet. However, where there is a will, there is a way.

Further information

Savills has been working with the government on the possibility of regenerating existing housing estates in inner London. This offers the potential of working with residents to enhance their communities and help meet housing demands from a predicted population of 9 million by 2021.

Contact Savills Housing for more information.