A market study of home building in the UK published by the OFT

The Office of Fair Trading (the OFT) has published Homebuilding in the UK: A market study that concludes:
  • The home building sector is broadly competitive and there is little evidence of home builders "landbanking" to restrict supply and inflate prices.
  • Homebuyers can experience delays and faults and they need more protection when buying a new home.
Some organisations involved with the home building sector have agreed to implement a code of conduct and redress scheme to address the problems experienced by homebuyers. The OFT recommends statutory intervention if the industry fails to deliver an effective solution to these problems.
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