SmartNewHomes

SmartNewHomes said that the Office of Fair Trading's (OFT) market study into the house building industry will come as a welcome boost.

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  • David Bexon, managing director of SmartNewHomes, said that it is testament to the strength and integrity of the house building industry that the detailed investigation has highlighted its continued competitiveness in the current climate.

    He called on the Government to start concentrating less on investigative market studies and more on ways to stimulate the housing sector and help bring back first time buyers to the market.

    While the sector is not immune to difficulties, the report states that the majority of problems experienced in the homebuying process are quickly resolved by developers and at no extra cost for the consumer.

    However, any renewed methods to help continue the level of good practice in the new homes market should be welcomed, Bexon said.

    Code of conduct

    An established code of conduct designed and implemented by the industry will offer new buyers further clarity and protection in their purchase. It will also allow developers to coordinate their methods for dealing with any customer satisfaction issues in a more streamlined and consistent manner across the whole industry, meaning that everyone is on an even playing field and that all buyers are receiving the most efficient service possible.

    Land banking

    The OFT found no evidence of house builders hoarding land. What the study concluded was that building is in fact being constrained by the limited availability of suitable land.

    Bexon said he supported the OFT's recommendations that the Government needs to make more public sector land available for future development.

    Some information contained herein may have changed since it was first published. SmartNewHomes strongly advises you to seek current legal and/or financial advice from a qualified professional.

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