Some 7,848 affordable houses were completed in the six months to 30th September 2022 — 2,248 less than the number of properties completed in the same period last year (10,096).

The total affordable dwellings completed in this period include:

• 3,670 affordable rent homes (31% decrease from the same period last year)
• 3,055 properties for intermediate affordable housing schemes (15% drop)
• 1,123 homes for social rent (4% decrease)

The report also showed a 7% drop in the number of affordable homes started on-site during the same period, totalling 10,986.

According to Homes England, the declines can be attributed to the closure of bidding for the Shared Ownership and Affordable Homes Programme 2016-2021 and the gradual build-up of the new Affordable Homes Programme for 2021-2026.

Peter Denton, chief executive at Homes England, said: “Our partners are operating in a challenging environment with many macro-economic pressures, including material and labour shortages, as well as rising cost inflation, all of which have impacted delivery.

•   Hilltop launches real estate funding and management platform
•   Octopus completes £8.6m loan for sustainable development in Leyton
•   LDS hires ex-Homes England investment head

“This slight decline in numbers is also not unexpected during the transitional period between two programmes.

“We know that our partners are likely to face continued pressures in the coming period.

“Our shared mission of providing quality, affordable housing for those that need it most is more important than ever, and our focus is firmly on supporting our partners and maximising delivery.”

Samuel Mather-Holgate, managing director at Mather & Murray Financial, characterised the lack of affordable housing stock in the UK as a “national disgrace”.

“It is really disappointing, but unsurprising, to see that there hasn't been any major increase in affordable housing development starts or completions.

“This is the one main policy area that has dogged the government for over a decade, and they simply haven't grasped the nettle.”

Dorian Payne, director at Castell Group, said: “This data shows how far away we are from building enough affordable homes and how significant the affordable housing crisis is.

“If private housebuilders slow down construction due to the current market and economic environment, it's going to have a direct impact on affordable housing provision, arguably at a time when it's needed the most."