Clarion’s housing completions have fallen 21% year-on-year as it adopts a “cautious” approach to investing in delivery in the current economic conditions.

The housing association giant, in a quarterly update today revealed it completed 1,251 homes in the nine months to 31 December, a reduction on the 1,586 built in the same period the previous year. The group invested £344m in new homes, a 30% reduction year-on-year.