Insurance News Archive

OFT report represents 'clean bill of health' for new builds

The Home Builder's Federation (HBF) has responded to the recent Office of Fair Trading (OFT) report on new builds which found 70 per cent of consumers had a positive experience with buying this type of home.

Steve Turner, head of media relations at the HBF, said the OFT had gone through the market with "a fine tooth comb" over the 15-month inspection period, meaning the result is "a clean bill of health" for the industry.

Furthermore, he said the organisation was very happy with the results, declaring it a "welcomed boost" for a sector going through a difficult time due to the current economic climate.

Mr Turner said: "They have concluded the industry is competitive, and that there is no evidence of builders trying to fix house prices."

The OFT report also found restrictions on entering the market appeared low, with "little evidence" of competition problems affecting delivery of new homes.

29 Sep 2008