UK housebuilders face class action suit over alleged collusion to inflate prices
Major UK housebuilders face a multibillion-pound lawsuit alleging price-fixing.Summary
Britain's largest housebuilders, including Barratt Redrow and Taylor Wimpey, are facing a multibillion-pound class action lawsuit led by Mark McLaren, a former Which? manager. The claim, representing over 700,000 consumers who bought new-build homes between 2015 and 2026, alleges that the companies colluded by sharing sensitive pricing information, buyer incentives, and sales activity. This anti-competitive behaviour allegedly drove up prices, with the claimants seeking compensation estimated at between £2.2bn and £4.5bn. The lawsuit comes after a Competition and Markets Authority (CMA) investigation that found evidence of companies sharing commercially sensitive details. While the housebuilders have not admitted wrongdoing, they previously agreed to a £100m settlement with the CMA to fund affordable housing schemes. The claim requires approval from the Competition Appeal Tribunal before proceeding.
(Source：The Guardian)