Hyde Group has built just 57% of the homes it originally targeted in 2023/24 as it was forced to write-down £39m due in part to contractor insolvencies on two schemes.

The 44,000-home association, in its financial statement for the year to 31 March, completed 630 homes in 2023/24. This was in line with last year’s figure of 625, but down against its original target of 1,105.