There is no question that the recent proposals announced by government minister Sajid Javid at the Conservative Party Conference earlier this month look positive for the UK housing market.

The headline measures seem to show that the government recognises it is small- and medium-sized housebuilders that will be critical to making up the existing shortfall in homes built each year – currently 80,000 short of their target of a quarter of a million.

So, it is no surprise that the policies look designed to help this group. A substantial £3bn Home Builders Fund, accelerating construction on public land and unlocking brownfield sites should all help alleviate key hurdles that are currently slowing down building rates.

However, we should not get carried away that these announcements spell the end of the housing crisis. Much has been said by previous governments on boosting housing, but words have not always translated into actions. Yet again, the devil of these policies will not only be in the detail, but in the speed and skill with which they are implemented.

The effective roll out must be founded on quick and comprehensive consultation with all parts of the housebuilding chain – not only from those contributing to constructing homes from the ground up, but also with organisations providing the crucial financial backing to developments.

There is widespread support for the Home Building Fund – from the Homes and Communities Agency, for example – but there has been limited dialogue with private resi financiers so far on how they can help. It is not clear how the government plans to ramp up sufficiently to utilise £3bn. Further details are needed before we can be confident that these headline-grabbing figures translate into meaningful housing delivery.

Renewed talk of creating new supply chains using offsite construction and encouraging new models of building are another example. The growth of modular or prefab homes shows a welcome and necessary embrace of new technology – addressing modern challenges of building homes in high-density urban areas with very modern solutions.

However, there is still a lot of work that needs to be done to enable private funders to back this still nascent industry. The introduction of more stringent quality standards in prefab homes, tax breaks for investors in the technology to drive standards up or a government-backed guarantee for the SME housebuilders themselves (if any of the suppliers liquidated during the build process) would be a welcome start.

Funders are keen to get involved in this exciting new sector, but currently lack the certainty to meet strict criteria needed to invest. Consultation and partnership with the private sector again will be key to making the most of the government’s schemes.

So, while the residential lending industry at large has welcome the “radical” set of reforms outlined by Mr Javid, lingering uncertainty on details may stem any surge in activity for now.

The more detailed government white paper on housing due out later this autumn will therefore be key to clarifying these questions. And to fulfil its ambition to see a million new homes built by 2020, the government must demonstrate clear mechanisms for co-operation and consultation with the private sector to optimise the impact of their policies.