The majority of developers believe that the Government is likely to miss its annual housebuilding target of 300,000 new homes a year.

A new report from property consultants Knight Frank found that 86% of housebuilders believe construction of 250,000 additional homes a year is the maximum achievable amount by 2022.

Just 1% of respondents, which included more than 100 developers that account for almost three quarters of all newly-built homes across the country each year, think surpassing 300,000 additional homes a year is possible by 2022.

Knight Frank’s annual housebuilding report also revealed most small developers (57%) intend to decrease the number of homes they build or leave output unchanged.

Nearly half of respondents (46%) said that ending the Help to Buy scheme in 2021 would have a negative impact on the supply of homes they were able to deliver.

‘Nationwide, housebuilding looks set to increase, underpinned by more evenly distributed house price growth and high levels of employment in regional cities,’ said David Fenton, head of regional land at Knight Frank.

‘However, our survey indicates that scepticism prevails among housebuilders over whether it’s possible to deliver 300,000 additional homes a year, and ultimately they will only build what they can sell.’

A MHCLG spokesperson said: 'This government delivered 217,000 new homes in England last year, this is up 15% on the previous year and the highest increase in nine years.

'We have set out an ambitious programme of reforms to boost housing supply – including planning reform and targeted investment to help us deliver an additional 300,000 properties a year by the mid-2020s.'