Housebuilders to pay £100 million following CMA probe

Seven housebuilders have agreed to pay a total of £100 million to affordable housing programmes across the United Kingdom following a Competition and Markets Authority investigation.

The CMA launched the investigation last year following concerns that seven housing developers – Barratt Redrow, Bellway, Berkeley Group, Bloor Homes, Persimmon, Taylor Wimpey and Vistry – exchanged details about sales including pricing, number of property viewings and incentives offered to buyers.

The housebuilders – who stress that they are not admitting any wrongdoing - have offered a package of commitments to address the CMA’s concerns which it will now consult on until July 24 2025. Under the proposed commitments, the seven housebuilders – in addition to the £100 million payment – will work with the Home Builders Federation and Homes for Scotland to develop industry-wide guidance on information sharing and will agree not to share certain types of information with other housebuilders, including the prices houses have been sold for, except in limited circumstances.

The Home Builders Federation and Homes for Scotland have confirmed their commitment to developing and publishing guidance on information exchange for the wider housebuilding industry.

CMA says that, if accepted, the commitments will become legally binding …