Housing minister: Housing is 'key to the economy'

The housing minister Grant Shapps has made the claim that UK property, and the market for it, is the key to making sure that the British economy starts to recover over the next few years.

The minister, speaking ahead of the budget, and three months after David Cameron announced the government's flagship Housing Strategy, said that there are three measures which need to be addressed in order to make sure that the market picks up and contributes to the economy.

These measures include making sure that there are opportunities for as many first-time buyers as possible to get onto the housing ladder with properties for sale, providing assistance for millions who are waiting for social housing on waiting lists, and helping to boost the building industry.

He said that recently he had identified 80,000 sites for new homes in order to meet the government's promises of building 100,000 properties by the year 2015, a target Mr Shapps said it is now on course to meet.

Mr Shapps promised that mistakes of the past would not be made again as the government said that housing was vital to the economy.

"That's why I'm pulling out all the stops for those who want to get on the property ladder, so from March the NewBuy Guarantee scheme will be on hand to help people buying newly built properties with just a fraction of the deposit they would normally need.

"It's also why I am working across Whitehall to ensure we release enough public land for 100,000 new homes by 2015. But I'm looking beyond Westminster and want to see organisations like the BBC, Royal Mail and Network Rail also follow our lead."

Earlier this month, Mr Shapps also promised to help push through proposals which would see older people helped to keep their homes and given advice on the best options for their housing.