Britain’s biggest housebuilders have been accused of dripfeeding new homes on major developments to maintain their profits.
Sir Oliver Letwin said that he was “not persuaded” that the reasons given by builders for the slow rate of homebuilding were true.
“The principal reason why housebuilders are in a position to exercise control over these key drivers of sales rates appears to be that there are limited opportunities for rivals to enter large sites and compete for customers by offering different types of homes at different price-points and with different tenures,” Sir Oliver wrote in a letter to Philip Hammond disclosed yesterday.
