Karbon Homes has increased its development by 10% but has fallen short of its target for the year.

The 32,000-home provider, which is based in Newcastle-upon-Tyne, revealed it completed 707 homes in 2024/25, up from the 644 it built the previous year.

The provider, in its annual financial statements, said however it missed its target of completions equating to 2.5% of its social housing stock, falling short by 120 units. It said this was “mainly due to construction delays and material and labour shortages.” Its target for 2025/26 is 703 homes