The minister said Britain already spends "an awful lot of money" on affordable housing and more must be done to kickstart the property rental market.
He said new rental developments without cheap housing are better than no new homes at all. His comments come after a new report from Sir Adrian Montague, a top businessman, warned graduates and young professionals face a shortage of private rented property.
"Even in these austere times, nearly £20bn will have been spent on that particular part of the programme during this parliament, so actually I think the question is what else can we do to get these developments moving," he said.
"If the costs of building are so high that you end up with no development, no regeneration, no community benefits overall, then, actually, you’ve set the bar so high that it’s disadvantageous to everyone."
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