According to research carried out by the Office Fair Trading (OFT) seventy percent of new homes are faulty.
The OFT has been investigating the housebuilding industry for over a year and has just released its initial findings. The study not only investigated quality issues, but also covered consumer satisfaction and house supply issues relating to builders hoarding land.
Over the next few months the OFT will be discussing its findings with consumer groups and the building industry. This could result in one or more of the following in September:
- giving the housebuilding industry a clean bill of health
- providing information to help consumers
- encouraging the housebuilders to take voluntary action
- encouraging an industry code of practice
- making recommendations to the Government or sector regulators
- investigation and enforcement action against companies suspected of breaching consumer or competition law, or
- a market investigation reference to the Competition Commission.