The UK has seen a “persistent under delivery” of new homes, according to the competition watchdog which has launched an investigation into eight housebuilders.
Too few new homes are being delivered due to a “complex and unpredictable” planning system, the Competition and Markets Authority (CMA) said.
Its report into the housebuilding industry also identified “substantial concerns” about estate management charges – with homeowners “often facing” high and unclear charges for the management of roads, drainage and green spaces.
Less than 250,000 new homes were built last year across Britain – well below the 300,000-target for England alone, the CMA said.
Along with planning system problems, a key reason for this is the system of development where homes are built without knowing in advance who will buy them or for how much, a system known as speculative private development.
Concern about the quality of housing was also identified.
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