UK Chancellor George Osborne has proposed plans to build 200,000 new homes in brownfield land near Bristol by 2020.
Speaking at the annual Mansion House speech to the Corporation of the City of London, Osborne said that £500m has been earmarked to speed urban house-building through the planning system.
"We need to see a lot more homes being built in Britain. The growing demand for housing has to be met by growing supply," Osborne said.
As part of the plan, Osborne will order local councils to pre-approve planning permissions on 90% of brownfield land by 2020.
The government will spend an initial £5m to help local authorities create the first 100 sites, then the project will be expanded with funding reaching up to £500m.
Osborne said that the urban planning revolution will mean that, in effect, development on these sites will be pre-approved and local authorities will be able to specify the types of housing, instead of whether there will be housing.
"And it will mean planning permission for up to 200,000 new homes, while at the same time protecting our green spaces," Osborne added.
Osborne will call on Mayor of London Boris Johnson to chalk-out plans for housing zones across London, to promote the construction of new homes.
Johnson said: "Many of our estates date back to the 1960s and it is high time that they received a new lease of life. I urge developers to apply for the funding and get building."
Five sites have been identified for the construction of new homes, including Tottenham Hale in Haringey, Southall in Ealing and South Poplar in Tower Hamlets.