Registered providers spent £3.5bn on developing and acquiring properties in the three months to June, according to the Regulator of Social Housing’s (RSH) latest quarterly survey.

The data, gathered from 200 landlords, shows RPs’ spend on development was 17% below the £4.2bn they initially forecast, with more than three quarters (78%) reporting an underspend.

It said: “The majority of providers have cited delays due to a number of factors including land acquisitions not progressing and general site delays, causing the deferral of schemes into future periods.