The number of new homes delivered last year, the lowest annual completion rate in a decade, tells a story of an industry adapting to change and where the cracks in the traditional contracting delivery model have come under strain.

A new regulatory environment has not been helped by the wider macroeconomic picture, where energy price shocks have rocked supply chains and procurement costs.

New building safety regulations and a still evolving regulatory system, persistently high procurement and land costs and higher sustainability and quality standards introduced by the Future Homes Standard, are slowly compounding to reveal those in our industry who are adapting to deliver housing in a new environment and those who will have to quickly make significant changes to stay in the race.