Metropolitan Thames Valley Housing’s (MTVH) build rate has dropped 8% as it made “difficult decisions” over spending, it has said.

The 57,000-home housing association, in its financial statements, said it completed 657 homes in the 2022/23 financial, narrowly missing its lowered target of 664 homes.

The figure of 657 is an 8% drop on the 712 homes completed the previous year and a 28% fall on the 923 completed in 2020/21.