The Competition and Markets Authority (CMA) has stated that the housebuilding sector will be in its sights over the next 12 months.
In a letter to Michael Gove, CMA chief executive Sarah Cardell writes that, on 18 January, the watchdog’s board decided that homebuilding “should be prioritised as the next market study that the CMA launches.”
She goes on to say that further details, including the geographical scope of the study, will sent to the board for approval “in the next few weeks.”
The board, “Noted that there are many factors at play in delivering affordable, high-quality places to live in but agreed that a thriving, competitive homebuilding sector is a core foundation for delivering the homes people need,” the letter details.
This comes after Michael Gove himself asked the CMA to open a study on the housing sector in early December last year.
And this is not new ground for the regulator. It has recently looked into leasehold and ground rent issues, managing to secure agreements from nine building firms regarding the latter in the summer of 2022.
“I would like to thank you again for your personal engagement on this subject and that of your officials to date, and I look forward to discussing the findings of the market study in due course,” concludes Cardell in her letter.
