As polling stations prepare for floods of voters to arrive, the main political parties are making their final push for votes.

Housing has been a hot topic throughout the election, and in particular, the need to build more properties per year to keep up with demand.

Labour has announced in its manifesto that it intends to build, on average, 200,000 homes a year by 2020, almost double the current level.

If achieved, it will see around one million homes built in the UK by 2020 and up to 230,000 jobs created for those in the construction industry.

To find out how realistic Ed Miliband’s aims are and how the next government should be dealing with the current lack of houses, DFT spoke to those in the development finance industry.

Ashley Ilsen of Specialist development finance lender Regentsmead, which has built recent alliances with the Federation of Master Builders and National Federation of Builders, believes these partnerships are the way to improve house building rather than “pie in the sky figures”.

“Leading up to election day I think it's common to see populist claims like Ed Miliband's recent pledge,” said Ashley.

“The sad truth is this is often without further investigation or sufficient thought to support these claims. Whilst I think it's widely acknowledged amongst almost all political parties that we aren't building nearly enough houses I am yet to see a genuinely well thought out proposal that will put this into action.”

Bob Sturges of Omni Capital also doubts whether any political party has the delivery mode capable of building more homes and says that no party has come close to building 200,000 homes a year.

"The debate on numbers aside, if the UK is to improve its recent record five things need to happen as a minimum,” said Bob.

“First, we must accept there is no silver bullet, scale-down the political rhetoric and get down to serious planning. Second, maximise output from existing house-building models while developing new ones better-suited to an era of rapid demographic change. Third, secure sufficient land suitable for development. Fourth, improve the planning process. Fifth, ensure the supply of finance.

"Without these essential ingredients in place, and assuming no dramatic decline in our population, we will have to suffer headlines screaming ‘Housing Crisis!’ for years to come. Whether any political party has the wit or will to make it happen is for the future to decide."

JM Finance’s Zed Lorgat agrees with Bob as he believes everyone wants the target to be achieved but there are too many obstacles in the way.

“I would say that just the planning process in itself being long-winded will delay this strategy,” said Zed.

“The pledge would have to include some element of fast track planning approvals for this target to be reached. Having said this, there is also the matter of countering planning objections.

“Once these two are handled, I think the actual house development construction and financing and selling side is probably very achievable by most house builders in the UK.”

Graham Allen of Commercial Money Matters however, believes that whoever wins the election will not be able to control these restrictions to house building unless there is a change to the process.

“There needs to be further planning reform to make sure borough council nimbyism doesn’t take hold,” said Graham.

“It is not the Labour or the Conservative parties who are the issue with house building it is the borough councils.

“This seems to be another vote winning policy without anything behind it, these are nice things to say but time and time again governments have failed to deliver on these issues.”