Housing 21’s development has fallen 58% year-on-year.

The care specialist, in a trading update for the year ending 31 March, said that it had completed 289 homes in the financial year down from 691 the previous year. The figure is also lower than the 353 homes it was originally targeting in the year.

The Birmingham-based association also said that it is now aiming to increase development to 400 homes a year, rather than the 800 homes a year it had talked about last summer.