A Housing Finance Institute is to be set up by Government in a bid to address the skills and knowledge gap in delivering local authority housing.

The Institute - one of the key recommendations made in the Keith House and Natalie Elphicke housing review - will aim to help councils set up joint ventures or investment vehicles.

Housing minister Brandon Lewis said while housebuilding by councils was at a 23-year high, ‘they could be doing more’.

He said; ‘Today’s measure will ensure councils can develop the skills and knowledge they need to invest in building in their area, to deliver the homes their communities want.’

Keith House said the Institute could make a ‘real difference in boosting housing supply’ and the full scope and governance of the new body would be confirmed soon.