L&Q has started work on 1,405 new homes in the first nine months of the financial year, a drop of 35% on the same period the previous year.

The housing association giant last year abandoned a long-term goal of building 100,000 homes over a decade to focus more on existing stock. It is understood that L&Q believes it is still on track to meet its new target of building 3,000 homes a year over five years.

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