The Labour party has announced they will build one million homes by 2020 if they are elected as the new UK Government.

The party has promised to construct 200,000 homes per year to achieve their 2020 target.

At a recent speech in Stockon-on-Tees, leader of the Labour Party Ed Miliband said: "We will start construction of one million homes over the next five years, so at least 200,000 homes a year are getting built by the end of the Parliament with a new generation of towns, garden cities and suburbs, unlocking land being hoarded by large developers, telling them either you use the land, or you lose the land."

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Mr Miliband added he will also reduce the stamp duty to zero for first time buyers of homes worth up to £300,000.

(LM)