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A market study of home building in the UK published by the OFT
Practical Law UK Legal Update 1-383-5158 (Approx. 6 pages)
A market study of home building in the UK published by the OFT
by PLC Property
| Published on 26 Sep 2008 • England, Wales |
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.