The housebuilding industry is facing a forthcoming Office of Fair Trading (OFT) investigation into its operating practices with confidence that the inquiry will find in its favour and support its calls to unblock the planning system’s restrictions on land supply. The timing of the OFT’s plans to investigate the industry has been unexpected, since its remit cuts across that of John Callcutt’s governmentcommissioned review of housebuilding delivery, which is due to report its findings in autumn. <br><br>But the concept was first suggested by Kate Barker in her 2004 review of the housing market. Former Bank of England monetary policy committee member, professor John Fingleton, who is heading the review, said it would be an “in-depth examination of competition and consumer issues in new housebuilding.” Said Fingleton: “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.<br><br>“Furthermore, for individual house buyers, even low levels of dissatisfaction can translate into very high detriment.” He added: “One issue is pre-approval – land that’s owned for development and how it gets into the housing planning process. Then I think the second delay is once land …