Mr Prothero said: “Labour are saying the right things, however, what they say and what they will do are entirely different things.”
MJ Gleeson predominantly builds homes aimed at first-time buyers. The company, which is valued at £290m, built more than 700 homes in the second half of 2023, but this was down from nearly 900 across the same period the year before.
Activity has been held up by a surge in mortgage rates, which has made it more difficult for first time buyers to get on the housing ladder.
Mr Prothero’s comments came as MJ Gleeson reported that its profit before tax had dropped by more than half to £7.2m in six months to Dec 31 2023 compared to the same period the year before.
Despite the sharp fall, Mr Prothero said the results reflected “a robust performance given the conditions of the housing market”.
Mortgage rates have risen sharply over the last two years amid ructions in the bond market and rising interest rates. The average two-year fixed residential mortgage rate now stands at 5.68pc, according to Moneyfacts, while the average five-year is 5.26pc.
The Department of Levelling, Housing and Communities declined to comment.
