It is time the UK government took a fresh look at its housing ambitions and admitted what the industry has been saying for more than a year: that they are simply not achievable.

These were policies designed for a boom, not possibly the worst housing slump since the second world war, and there should be no embarrassment in admitting as much.

The green agenda is at risk of being sidelined by the credit crisis, in spite of attempts to keep issues alive in the commercial property industry. The environmental impact of commercial property is undeniable, with about half of all Britain's carbon emissions associated with buildings, according to government figures.