The Government doesn’t have a ‘cat’s chance in hell’ of meeting its housing targets, claims Shadow Housing Minister Grant Shapps…

Mr Shapps recently told the Daily Telegraph: "It is becoming quite clear that the government doesn't have a cat in hell's chance of meeting its targets, either long or short-term.".

While Gordon Brown has set out an aim for three million new homes to be created by 2020, the recent slowdown in the market has, according to the RICS, made this target much less likely to be achieved.

The latest research by the body has found that the majority of surveyors reporting a rise in demand for new homes over those reporting a decrease fell from 17 per cent in the third quarter of 2007 to 16 per cent in the fourth quarter.

Less demand = Less building

With less demand comes less building, Rics commented. Senior economist David Stubbs concluded: "Doubts are likely to intensify over the ability of the government to meet its ambitious house building targets. Indeed, it is worth noting that new housing starts have already begun to stagnate in recent quarters."

Mr Stubbs is not alone in this view. Tim Doherty, managing director at the National Self Build & Renovation Centre, said this week that the government had done plenty to encourage the building industry in the last year with measures such as relaxing planning controls. Yet, he added: "However, already behind target, the likelihood of delivering enough suitable, affordable new homes over the next few years is diminishing," since the current situation meant that some house builders were "practically on stop".