David Cameron has doubled his 100,000 homes pledge, vowing to deliver 200,000 properties for first-time buyers in England by 2020 under the Starter Homes initiative if the Conservatives win the election.

First-time buyers under the age of 40 in England can already register to buy new homes at a discount of up to 20 per cent off the normal price, under the plans for 100,000 properties already announced by the Coalition Government.

But the Prime Minister wants to double the volume of homes available if elected to enable more people to gain a first foot on the housing ladder.

The 20 per cent discount will be paid for by waiving the fees developers are required to pay to local authorities under so-called Section 106 agreements, amounting to at least £45,000 per new home on brownfield sites.

In a speech in Colchester on Monday, Mr Cameron accepted that there is a housing affordability crisis and that more needs to be done to help young people buy property.

He said, “The young people in their 20s and 30s still living with their parents, desperately saving for their own place. The couple who want a child but can’t afford to upsize – even though they have both got have full-on, full-time jobs. It shouldn’t be this way.

“Our goal is a Britain where everyone who works hard can have a home of their own.”

Mr Cameron’s announcement on Monday came just days after the latest DCLG House Building statistics were released revealing that despite the urgent need for more new homes, the number of new housing starts fell by 10 per cent during the final quarter of last year.

Brian Murphy, Head of Lending at Mortgage Advice Bureau, said, “A fall of 10 per cent in new housing starts for the second consecutive quarter is a major concern, especially as this also represents a yearly fall. Seasonal factors will have played a role in the sluggish activity towards the end of 2014, but the fact remains house building levels are far behind where they need to be.”

One of the major issues holding back new build housing supply is constraints with the planning process, according to Stewart Baseley (right), Executive Chairman at the Home Builders Federation.

He said, “As we approach an election, all parties need to focus on how we can increase housing supply still further.”

Although the number of houses being built in the UK fell during the final three months of 2014, the Government says 137,000 homes were started in 2014 – an increase of 10 per cent on the previous year and up 36 per cent on 2012.