New-build Cartel?

RHemmings

Albermarle said:

RHemmings said:

I read of this some days ago, and am curious to see what if anything is done. I predict that the outcome won't lead to a large increase in supply of housing. I predict that there will be fines that make it look as if it's more than a slap on a wrist, but not big enough to really change the way that the companies do business. 

It's quite possible to have implicit price-fixing, where companies simply watch each other's business and prices and stay comparable. Without any direct collaboration. 

Yes, and the key point here is that any info that is in the public domain is OK . As house prices are in the public domain, it is pretty easy for one developer to see what another developer is doing in this respect.
I guess the problem could be deeper and they are maybe sharing info about future developments, avoiding building in the same areas or avoiding building the same kind of properties in the same area. Or something less obvious. Just guessing.

Yes, I also guess that more than just observing each other has been going on. Otherwise there wouldn't be a need for an investigation.

But, there is no real need to expect that once this case is over, things will really change for homebuyers. As I interpret your post to say. 

lika_86

user1977 said:

lika_86 said:

user1977 said:

lika_86 said:

user1977 said:

At most what we'll see is them getting their wrists slapped. It doesn't affect any individual purchases.

If found to have participated in a cartel then it's possible that a private damages claim could be brought. Collective actions are starting to become a thing, which is most likely the only realistic means for individual consumers to obtain redress, but even if successful, the benefit to any one individual consumer is likely to be small and years down the line (investigations alone can take years and a damages claim even longer, with no guarantee of success).

Have there been such successful claims?

Various collective actions are going through the process at the moment. As I say, they're relatively new. 

If there's no relevant precedent than I doubt it's helpful to get the OP's hopes up.

As you'll see from my first post I mentioned that any possible benefit is likely to be small and years down the line if such a claim were successful following any infringement decision, hardly getting the OP's hopes up. 

MultiFuelBurner

I can't see this coming to much, let's not forget how much power the building industry wields in the higher echelons.

Without the building industry we don't actually make much and it perpetuates so many other pieces of work through it's life cycle.

It will however be fun to see how it all unfolds or just gets squashed.