CMA collecting further evidence as it extends probe until May
The Competition and Markets Authority’s (CMA) investigation into alleged breaches of competition law by seven housebuilders will now run until May, it has announced.
The CMA last year launched an investigation into a group of housebuilders following concerns they may have exchanged “competitively sensitive information.” The companies being investigated are Barratt Redrow, Bellway, Berkeley Group, Bloor Homes, Persimmon, Taylor Wimpey and Vistry.
The CMA in an update confirmed it has concluded its initial probe but will now carry out further investigation, including gathering additional evidence and carrying out analysis.
It said: “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. Not all cases result in the CMA issuing a statement of objections.
“The CMA will consider any representations it receives before any decision is taken as to whether competition law has been infringed.”
>>See also: Top 50 Housebuilders 2024
>>See also: Barratt Redrow anticipates closure of nine divisions as part of integration programme
The CMA’s investigation was launched after it published the results of a year-long study into the UK housebuilding market, which revealed that complex and unpredictable planning rules are behind persistent shortfalls in the delivery of new homes
As part of the study published last February the regulator said it had found evidence indicating alleged breaches of competition law by the housebuilders.
The report suggested these housebuilders “may be sharing commercially sensitive information with their competitors” to “influence the price and build-out of new homes”. The CMA warned that such activity may “weaken competition in the market”.
The seven housebuilders have been contacted for comment.
No comments yet