More than half of developers in Yorkshire and Humberside believe the UK can hit its ambitious housebuilding targets.

A survey by Shawbrook found that 61 per cent of developers expect an increase in housebuilding over the next 12 months, though this optimism drops to 50 per cent for the next one to three years and 46 per cent for the following three to five years.

Terry Woodley, managing director of development finance at Shawbrook, said: “While the developers we spoke to are confident, scepticism remains more broadly in the market.

“There has been some progress over the past year in reducing planning red tape and streamlining processes, but more needs to be done to make the 1.5 million new home target feel more achievable.

“Resource constraints remain a major challenge—whether in the form of materials and supply chain issues or the sector’s ongoing skills shortage.

“To truly unlock the UK’s housebuilding potential, the Government should make addressing these issues a priority.”