Uk Governments Emergency House Building Summit

The UK government will host an emergency summit this week to kick-start the building of hundreds of thousands of new houses in the south of England.

It comes amid rising concern that house prices have become unaffordable for large parts of the population and amid growing evidence that rising interest rates will result in fewer construction starts as house builders seek to protect themselves from a collapse in prices.

It follows a recent survey by the Construction Products Association, representing the UK's biggest building material firms, indicated house builders are on course to build fewer homes.

The summit, to be chaired by housing minister Yvette Cooper, with key housing associations, councils and house builders, will attempt to accelerate projects that have been talked about for years.

The government is expected to announce shortly that it will allow councils to borrow to build affordable homes. And it is expected that housing will be one of the few departments to see a significant budget increase. Gordon Brown said the drive to build more homes will be central to his premiership.