Welsh housing associations increased their operating surpluses by 12.7 per cent last year reaching £193m, from a turnover which rose just 0.3 per cent to £908m.

The largest 33 Welsh HAs also reduced their operating costs by 2.6 per cent, down to £715m. The sector’s total debt level is now £2.7bn, up from £2.5bn in 2015/16, while it owns and manages 160,636 homes.