The U.K.'s competition regulator has announced an investigation into whether eight major housebuilders have engaged in sharing commercially sensitive information with their competitors. The companies under scrutiny include Barratt Developments, Bellway, Berkeley, Bloor Homes, Persimmon, Redrow, Taylor Wimpey, and Vistry.
Company Responses and Ongoing Investigation
None of the companies under investigation were immediately available for comment on the matter. The CMA's decision to launch this investigation follows a recent report highlighting issues in the housing sector. The report identified speculative private developments as a key factor contributing to the ongoing shortfall in home deliveries.
Recommended Measures for Improvement
According to the CMA's findings, private developers tend to focus on building homes that can be sold without price reductions, rather than diversifying their offerings to meet diverse community needs. The regulator also cited challenges with planning systems in England, Scotland, and Wales, leading to delays in construction projects.
In response to these challenges, the CMA recommended that governments enhance consumer protections for homeowners, encourage councils to include amenities in new housing estates, and establish a new homes ombudsman with a single mandatory consumer code. These measures aim to improve market outcomes and address issues within the housing sector.
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