The amount spent by registered providers on new development in the quarter to June was a third below that forecast and significantly below what they had contractually committed to, according to the latest survey by the regulator.

Housing associations registered with the Regulator of Social Housing (RSH) spent £2.9bn on development between April and June, which was 14% below the £3.3bn they had told the RSH they were contractually committed to invest and 33% below the total forecast expenditure.

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