Updated February 26th, 2024 at 13:14 IST

CMA investigates UK homebuilders for suspected data sharing

The CMA is worried that data sharing among homebuilders might affect site development and home prices.

Reported by: Business Desk
UK homebuilders under scrutiny for alleged sharing of sensitive data | Image:Pexels

Homebuilders under scrutiny: The UK's antitrust watchdog has announced an investigation into eight major homebuilders over suspicions of sharing commercially sensitive information. The Competition and Markets Authority (CMA) has expressed concerns that this sharing of data could potentially influence the development of building sites and the pricing of newly constructed homes.

Although the CMA clarified that the sharing of information isn't deemed the primary cause of the ongoing housing shortage, it still raises red flags regarding market competition. The regulator emphasised that maintaining a competitive market is crucial for addressing housing supply issues effectively.

The companies under investigation include Barratt, Bellway, Berkeley, Bloor Homes, Persimmon, Redrow, Taylor Wimpey, and Vistry. The CMA's probe signals a move to ensure fair competition within the UK's homebuilding sector and to address any potential antitrust concerns.

(With Reuters Inputs)

Published February 26th, 2024 at 13:14 IST