Developers will over the next three years have to face twelve changes to taxes, regulations and rules which will add an extra £20,000 onto the costs of newbuild homes.

The trade body which makes this claim, the Home Builders Federation, says the extra costs will dampen development growth and hit housing targets in deprived areas.

In the latest HBF report handed to the Financial Times claims the extra overall developer costs could be as much as £4.5 billion per year adding at least an extra £20,000 on every new home.

The HBF report highlights the biggest single cost is down to the Future Homes Standard coming into force in 2025 making it mandatory for all new home builds to include low carbon heating’s high energy efficiency fittings, this could cost as much as £1.9 billion a year.

Developers are already having to contend with immediate extra costs to the tune of around £5,000 per home in meeting the stricter energy efficiency regulations this year. The government has also introduced a new levy to raise funds for the replacement of flammable cladding after the Grenfell tragedy.

The HBF has continually supported environmental regulations but states the government has given too little consideration to “the impacts that could be felt as a result, either for the speed and volume of housing supply or for the ongoing investment in public infrastructure and affordable housing.”

Michael Gove has already implied that although the government’s target of 300,000 new homes remains ever present it is likely to be missed.

In his interview with BBC’s Laura Kuenssberg last weekend, he said: “We need to be straight with people: the cost of materials has increased because of the problems with global supply chains and also a very tight labour market means that the capacity to build those homes at the rate we want is constrained.”