Eight major UK housebuilders are now under investigation for suspected breaches of competition law.
The Competition and Markets Authority (CMA), a government watchdog which seeks to ensure fair and competitive markets in Great Britain, said today it has launched an investigation “relating to concerns” a group of large developers may have exchanged competitively sensitive information.
At this initial stage, the CMA will be involved in information gathering, analysis and review of its findings, which it estimates could go on until the end of the year.
The watchdog guards against unfair trading practices and uses enforcement action against businesses and individuals that take part in cartels or anti-competitive behaviour.
At this stage, it is understood the CMA has not reached a view as to whether there is sufficient evidence of an infringement or infringements of competition law for it to issue a statement of objections to any party under investigation.
The eight housebuilders being investigated:
- Barratt Developments
- Bellway
- The Berkeley Group
- Bloor Homes
- Persimmon
- Redrow
- Taylor Wimpey
- Vistry Group
Further updates will be provided in due course.
Was this interesting? Try Record results for Morgan Sindall
If you have a tip or story idea that fits with our publication, please contact the news editor rory@wavenews.co.uk
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.