Housebuilding study launched

Posted: 22 Jun 2007 10:50:06 GMT

The Office of Fair Trading (OFT) has announced plans to look into the housebuilding market and examine whether buyers are satisfied with the sector.

The Office of Fair Trading (OFT) has announced plans to look into the housebuilding market and examine whether buyers are satisfied with the sector.

In an effort to discover more about the housebuilding market, the study will consider the competition in the sector and the levels of buyer satisfaction with properties that are available.

As the UK suffers from a chronic shortage of available housing stock, the report could help to identify solutions to the problem and help to deliver a sustainable housing market of the future. One of the major problems within the housing market at present is the high cost of housing for first time buyers because of the lack of affordable new housing stock.

Commenting on the new investigation, John Fingleton, chief executive of the OFT, said: "This is a hugely important market for the economy because of its substantial economic impact and because unresponsive housing supply hinders labour mobility, constrains economic growth, and harms consumers."


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