UK new-build property market given "clean bill of health"

01-Oct-2008

First-time buyers (FTBs) buying a new-build home to get on the first step of the property ladder should be reassured by the results of an investigation into the industry, says one expert.

The Office of Fair Trading (OFT) conducted an in-depth and thorough study into house building as a whole and concluded that it remains competitive, with no evidence of builders trying to fix house prices.

FTBs should be given a "welcomed boost" by this news, states Steve Turner of the Home Builder's Federation.

"After a very in-depth study, after going through it with a fine tooth comb for 15 months, they [the OFT] have not found anything to concern them," he explained.

"The OFT have really given the industry a clean bill of health."

Investigations began following criticisms from the National Consumer Council in 2007, which said that nearly a third of new-build properties were deemed to be of poor quality.

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