The chief executive of Scotland’s largest housing association has warned its future development pipeline depends on government grant funding as it reported a drop in its annual completions.

Wheatley Group, in its annual financial statement, said it completed 348 new homes in the year to 31 March, down on the 644 it delivered last year.

It said though it expects to hand over 700 homes in 2024/25, has 1,706 homes on site or due on site and believes it can hit its target of building 3,400 homes between 2021 and 2026. This target was revised down from an initial target of 5,500 homes.