Office Of Fair Trading Opens Inquiry Into The Housing Market

[thecrashingisles]

http://business.timesonline.co.uk/tol/busi...icle1975346.ece

The Office of Fair Trading has launched an investigation into the United Kingdom’s £20 billion housebuilding industry amid concerns over both the quality and time taken to build the country’s housing stock.

The investigation will examine any evidence of cartel-like behaviour that may restrict the supply of new homes and fuel house-price rises, although OFT inspectors insist that they are approaching the inquiry with “no assumptions”.

[South Lorne]

http://business.timesonline.co.uk/tol/busi...icle1975346.ece

.....no assumptions.......but they must have some facts to justify an enquiry......

[The Three Little Pigs]

Nominally an investigation into shoddy building and builders restricting supply. Politically useful though to prepare a scapegoat for HPC - "a supply shortage drove up prices caused by builders hoarding land" said Yvette Cooper June 2008

[dnd]

i'm assuming this is government funded?

iirc the report conclusion is due mid-2008

just before a 2009 election...

[The Three Little Pigs]

The OFT is a non-ministerial government department established by statute in 1973.

[Pindar]

OFT opens inquiry into the state of UK housing industry

- State being the operative. There are fewer things that are less worth investing in than new build houses in the UK - particularly those built by the housing corporations such as Persimmon and Wimpey. I was looking at a new build in Trowbridge last year and was horrified as I walked into the coachhouse that was still under construction. It had just started raining and water had started pouring in through the roof, straight on to the non-waterproof chipboard flooring. The builder, inside, busily working away seemed either oblivious to the fact or just simply didn't give a ****. I thanked the persimmon agent and quickly departed.

What is needed is for smaller firms to be encouraged and for local authorities to be forced to grant planning permission, particularly where there are no reasonable grounds for objection - such as NIMBYism and pure unadulterated selfish greed. Vive le revolution.

[@contradevian]

- State being the operative. There are fewer things that are less worth investing in than new build houses in the UK - particularly those built by the housing corporations such as Persimmon and Wimpey. I was looking at a new build in Trowbridge last year and was horrified as I walked into the coachhouse that was still under construction. It had just started raining and water had started pouring in through the roof, straight on to the non-waterproof chipboard flooring. The builder, inside, busily working away seemed either oblivious to the fact or just simply didn't give a ****. I thanked the persimmon agent and quickly departed.

What is needed is for smaller firms to be encouraged and for local authorities to be forced to grant planning permission, particularly where there are no reasonable grounds for objection - such as NIMBYism and pure unadulterated selfish greed. Vive le revolution.

OFT? I bet the builders are quaking in their boots (not!)

[Saving For a Space Ship]

http://www.telegraph.co.uk/money/main.jhtm...23/cnoft123.xml

House builders fight back

Builders round on OFT enquiry

Housebuilders have accused the Office of Fair Trading of jumping on a well-worn bandwagon after the competition watchdog launched a "toothless" investigation into the £20bn industry.

Builders round on OFT enquiry

Persimmon CEO John White: 'I don't understand why this is an OFT matter'

Questions were also raised about the merit of the inquiry by John White, chairman of Britain's largest housebuilder Persimmon, who said: "I don't understand why this is an OFT matter."

Edited June 23, 2007 by Saving For a Space Ship

[crash2006]

Office of Fair Trading ofwat and all the others are a scam, they fine the companies yet dont give the fines to the people that have been ripeped off.