TODAY’S findings of the Office of Fair Trading (OFT) market inquiry into the homebuilding sector are a sensible package of the practical and fair, says the Federation of Master Builders (FMB).

Brian Berry, director of external affairs at the FMB said: "It is very good news that the OFT acknowledges the importance of small builders and is recommending to the Government that it needs to helps them to meet the technological advances required by the Code for Sustainable Homes by enabling them to make use of off-the-peg solutions.

“The fact is that small builders need this help if Britain is to have any real chance of creating a greener, more environmentally friendly housing stock."

He continued: "It is also encouraging that the report knocks on the head the old chestnut that homebuilders hoard large amounts of land with planning permission on which they have not started to build - the concept of landbanking.

“The report's conclusion that there is no evidence of landbanking and that the process reflects the need to have a pipeline of land at different stages in the development process reflects the market reality, rather than the myth that homebuilders have somehow been hoarding large tracts of land.

“Let's hope that we don't hear anything more on this subject now that it has been finally disproved."

He concluded: "To address the issue of consumer satisfaction, the FMB is working with the industry to help develop and support a new code of conduct to tackle delays in moving in, faults in new homes and issues around the sales process.

“It is in all our interests that the consumer is satisfied with their new home so it makes sense that the OFT is allowing the industry to develop a solution to some of the problems indentified in terms of the homebuyers' experience of faults or delays.”