The Tories have promised to build a million homes by 2020 but their record tells a different story – house building has fallen to its lowest level since the 1920s. They are planning to build "Fixed term social housing" – social housing which will be sold off after 10-15 years. This is an extension of the right to buy policy which has decimated social housing stock. As a result of the bedroom tax, and removing housing benefit for under 21s, the Tories have overseen a huge rise in homelessness.
Update: They've completely abandoned plans for any form of affordable housing now.
Labour will build 1 million homes, half of which will be available for social rent with the remainder available for sale at less than £150,000. Labour also pledges to end rough sleeping by the end of the next parliament, and provide insulation for homes, reducing energy bills and keeping pensioners warm in the winter. Interest free home improvement loans will be available for home owners to improve the efficiency of their homes. For renters, Labour will bring in 3 year tenancies, giving security and quiet enjoyment to those in rental properties. Minimum standards will be introduced to ensure that homes are fit for habitation.