Owen Smith would build 25,560 more homes in Yorkshire and the Humber - 5000 more than Corbyn

Mr Smith said if is elected leader, and then Prime Minister, he would build 300,000 new homes in the UK. Half of those would be social housing.

He said Mr Corbyn's proposal to build 200,000 across the country would come up short in Yorkshire, where he would need to pledge 5000 more to meet demand.

Mr Smith said: “My ambition is significantly more ambitious than both the current government and Jeremy Corbyn.

“They are both talking about about building 200,000 homes per year. That is not enough, I am in favour of 50 per cent extra. I think we should be building 300,000 homes a year.”

“Half of those homes should be social housing. Most of the rest should be absolutely affordable housing. We need to build the sort of homes people can afford to live in.”

Yorkshire and the Humber needs 20756 houses to satisfy demand. The Conservatives have built 10,700 in 2015 to 2016, leaving a shortfall of 9986. Jeremy Corbyn's target of building 17, 040 would still be 3716 fewer than needed.

Mr Smith said he would build 25,560 and would set up a National Housing body, which could be funded by a £200bn cash pot raised through long-dated Government gilts.

He said: "In Yorkshire and the Humber there has been a ten per cent rise in private rented costs in the recent period. We've just got more and more people stuck and unable to own a home.

"The answer to this is simple. Our activists were telling us build more homes and social housing and allow councils to borrow against our assets in order to be able to build those homes."

Mr Smith said he was concerned his own children would never be able to afford to buy due to spiraling prices.

He said: “For my children, my 17 and 16-year-old, I think it's really hard to imagine how they will earn enough money to be able to buy their own home. And that's a big, big change for Britain where its always been a given that you would get a job, and if you were working 40 hours a week, eventually at some point you would be able to buy your own home.”

He said even his MP’s salary of £74,000 would not meet the costs of buying in some parts of London.

“I was driving through Croydon, south London, a couple of weeks ago and I drove past the house that Liz my wife and I bought almost 20 years ago.

“I’m an MP 20 years later, and I couldn’t afford to buy that house now. Not with my salary.”