The latest financial results from housing association Peabody reveals that development numbers are down 35%.

In the six months to September 2023, the historic 108,000-home housing association completed 654 new homes, compared with 1,004 completions for the same period last year.

It invested £268m on new homes during this financial period, with a further 470 starts on site. A drop had been expected as Peabody chief executive Ian McDermott in April told Housing Today last year of plans to reduce short-term development plans in the face of inflation.