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Seven of the largest Hausbauer Great Britain have agreed to pay a total of 100 million GBP for the exchange of information between the companies according to an investigation by the state’s competitive regulatory authority.
The Competition and market authority said on Wednesday that the companies had offered to make payments after they had discovered evidence last year that economically sensitive information, including prices, had been transferred between companies.
The seven Hausbauer-Barratt Redrow, Bellway, Berkeley Group, Bloor Homes, Persimmon, Taylor Wimpey and Visry-Hatten “approved legally binding obligations that prevent the behavior contrary to competitive behavior and promote the industry-wide conformity,” said the CMA.
The commitments include cooperation with industry groups to develop guidelines for exchange of information, and an agreement to limit the types of details that can be transferred between householders, including the prices for the houses.
The 100 million GBP would be paid to affordable residential programs across Great Britain, said the CMA.
The supervisory authority will consult the public about the proposed payment and other obligations before deciding whether the plan should continue.
Sarah Cardell, managing director of the CMA, said: “Living space is a critical sector for the British economy, and housing costs are an essential part of the monthly expenses of people. It is therefore important that the competition works well. This keeps prices as low as possible and increases the selection.”
The CMA did not make any formal determination of misconduct against the companies.
Persimmon, who offered to pay 15.2 million GBP, welcomed the proposal of the CMA to accept and conclude the commitments, and noted that the supervisory authority had not made a statement that it had violated the Competition Act.
Bellway said his share of the proposed payment was 13.5 million GBP and added that this “does not represent an approval of misconduct”.
