The Conservatives will build 200,000 cut-price homes to help first-time buyers get a foot on the property ladder , David Cameron will pledge today . A scheme offering starter homes for sale at 20 per cent below the normal market price is to be doubled in size if the Tories win the election . The estimated discount on a typical £200,000 house would be a hefty £40,000 . Scroll down for video . Levels of home ownership have plummeted to the lowest level in 30 years , according to latest figures . The scheme for 100,000 such homes was announced at the Conservative Party conference in September . The Prime Minister now wants to build 200,000 over the next five years . Pledging to produce a Britain ‘ where everyone who works hard can have a home of their own ’ , Mr Cameron will say : ‘ There is a particular kind of security that comes with having a home – and that ’ s what I want to talk about today . Too many people have been denied that security . ‘ The young people in their 20s and 30s , still living with their parents , desperately saving for their own place . The couple who want a child but can ’ t afford to upsize – even though they both have full-on , full-time jobs . It shouldn ’ t be this way. ’ David Cameron will pledge to build 200,000 cut-price homes to help first-time buyers get a foot on the property ladder . The move comes amid concern over falling levels of home ownership and the prospect that future generations may never be able to afford a home of their own . Mr Cameron is also considering a radical idea tabled by Work and Pensions Secretary Iain Duncan Smith to extend the right to buy to 2.5million tenants in housing association properties . The Tories ’ Starter Homes initiative is due to begin today . First-time buyers aged under 40 are eligible to apply and can register their interest at www.starter-home.co.uk . The homes will be built by the private sector and several major developers such as Barratt and Taylor Wimpey have signed up to take part . Anyone buying one will have to hang on to it for at least five years before selling it on the open market to prevent speculators using the scheme to make a windfall profit . Ministers are consulting on whether to extend the minimum resale period to 15 years . Labour last night attacked the Tory housing plan after Conservative Party chairman Grant Shapps struggled to explain how it would be funded . In an interview with Sky News Mr Shapps initially suggested homebuyers would be offered government-subsidised mortgages , before saying ministers would ‘ get together ’ with developers and landowners to finalise details . Shadow housing minister Emma Reynolds said the comments suggested the Conservatives ’ plans were not credible . ‘ The Tories ’ housing policies are in chaos , ’ she said . ‘ Grant Shapps , a former housing minister , couldn ’ t even explain how the Government would deliver a key election pledge. ’ But Tory sources said there was a clear plan to keep prices down by allowing construction in areas where planning permission would not normally be granted for housing . Hundreds of acres of unwanted commercial and industrial land are to be turned over for the scheme , which Mr Cameron has said will help ‘ unlock home ownership for a generation ’ . In some cases , developers will be allowed to build a small number of homes for sale on the open market to subsidise the cost of the new starter homes . Developers will also be spared infrastructure levies which add about £20,000 to the cost of a home on a normal development . Rules allowing homeowners to build conservatories without planning permission are to be extended . Controversial rules that allow homeowners to build big conservatories and extensions without planning permission are to be extended for another five years , the Tories said yesterday . The regulations , which permit extensions of up to 26ft long without authorisation – provided no neighbours object – provoked a major row when they were first announced by the Government in 2013 . But Tory sources said they would be retained until at least 2020 . Regulations which make it easier for former offices to be converted to homes would also be extended . Conservative Party Chairman Grant Shapps said that the move was designed to ensure ‘ common sense on home extensions , so families aren ’ t crushed by expensive red tape ’ . Councils will also be forced to help find plots for people seeking to build their own homes , as part of a scheme that ministers believe could produce up to 20,000 new homes a year . Ministers say they want to offer new starter homes in both towns and the countryside – and it is possible that some will be built in the Green Belt . The price of homes available in the scheme will be capped at £250,000 outside London and £450,000 in the capital . Mr Cameron will pledge that design standards will not be allowed to slip , saying that people will not be offered ‘ rabbit hutches or shoe boxes , but decent , well-built homes with gardens – places to start and raise a family ’ . But industry sources questioned whether the scheme could be delivered and pointed out that it has been doubled in size before a single home has been built . One senior industry figure described the target for 200,000 cut-price homes over five years as ‘ very ambitious ’ in the context of the 125,000 or so new houses started in total last year .
David Cameron to announce housing policy in speech in five years . Tories will build 200,000 cut-price homes to help first-time buyers . Councils to be forced to free up plots for people who want to build house . Ministers claim it could lead to an extra 100,000 houses over today . Rules allowing for bigger extensions to be extended until 2020 .