OFT Housebuilding sector study
A market study into the housebuilding industry has just been published by the Office of Fair Trading (OFT) where it was concluded that there is little evidence of anti-competitive practice in the market and no evidence of monopolies.
The study which was announced in June 2007 did find that homebuyers can experience a number of problems including faults in new homes and delays in moving in. To address these problems an industry code is being drawn up by representatives from the sector including the Federation of Master Builders and the Council of Mortgage Lenders. These organisations hope the code will be fully operational by March 2010.
The OFT study was undertaken in the wake of the Barker Review of Housing Supply which recommended that there should be a relaxation of planning rules to allow the building of more affordable homes.
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