Government backs highly critical report into house builders
Posted: Friday, October 25th, 2024
The Government has backed a highly critical report into house builders by the Competition and Markets Authority (CMA), The Negotiator reported. This includes claims that many people buying new homes are unaware of the charges they may be liable to pay, particularly concerning estate management charges. In a statement issued by the Department of Housing, Communities and Local Government (DHCLG), Ministers also say that the problems associated with buying new homes are part of the broader challenges for home movers in England and Wales and that “we recognise that the process… can be expensive, time-consuming, and stressful”. The CMA’s report also critically examines land banking, the planning system, and the private management of public amenities on housing estates. Ministers have used their response to the report to take a potshot at developers in general, backing claims that they are deliberately not building homes fast enough to maximise profits and turnover, saying: “Many of the problems in the housing market are structural. It is over-reliant on a speculative model of housebuilding that slows build out and constrains the supply of affordable homes.” The Government also wants buyers to have better redress when the properties they move into are faulty. The DHCLG statement reveals that all house builders will have to join the New Homes Ombudsman (NHO) and abide by a single quality code.
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