■ Against this need we have delivered an average of 45,000 submarket homes annually since 2013. 93% of the shortfall is in London and the South, whilst affordable delivery gets close to meeting need in the North and Midlands.

■ It would take £7bn each year to provide social rented homes to all of those in need of sub-market housing. In the most expensive parts of the country this could offer a significant benefit saving compared to housing these households in market rented homes, because social rent is at such a discount.

■ Instead of just aiming to build the maximum number of homes, funding packages should give housing associations the opportunity to tackle local housing issues. This may be addressing housing quality in areas where affordability is less of a constraint.

■ For most housing associations, the profit generated through market sale is equivalent to less than 20% of their total surplus, but for some this rises to over 60%. Yet only 24% of board members told us a market downturn was a risk to them delivering more homes in our June 2017 survey.