Peabody’s new home completions are down 66% year-on-year.

The 109,000-home housing association, in a trading update today, said it completed 225 homes in the six months to 30 September, compared to 654 the previous year.

The figures illustrate the extent of the association’s scaling back of new build. It follows a previous 40% drop in annual development from 2,399 homes in 2022/23 to 1,381 in 2023/24.