Housing tenants may very well be given further protections and housebuilders pressured to vary their practices, the competitors watchdog has warned.

The Competitors and Markets Authority (CMA) has introduced a probe into the constructing and rental sectors, saying it will “want to seek out” any competitors points that is perhaps holding again home constructing within the UK.

“The standard and value of housing is likely one of the largest points going through the nation,” mentioned CMA chief government Sarah Cardell.

The watchdog pledged to have a look at 4 areas in the home constructing sector – construct high quality, land administration, innovation, and oversight by native authorities. It mentioned that it will examine whether or not the observe of “banking” land is anti-competitive.

That is when a property developer buys a plot to construct on in some unspecified time in the future sooner or later, however then doesn’t develop it for a very long time.

It’s estimated firms are sitting on sufficient land to construct tons of of hundreds of properties throughout the nation.

Final week Brandon Lewis, ex-housing and planning minister, mentioned Britain was passing up on a close to £18bn financial increase because of the authorities and companies’ “failure to construct sufficient new” properties,.

In a foreword to a report by suppose tank Coverage Alternate Lewis mentioned many years of weak housing provide has taken its toll on households “within the type of larger home costs, larger rents and better month-to-month mortgage repayments”.

The investigation will have in mind how truthful property administration charges are for issues like “unadopted” roads and facilities, the CMA mentioned.

The authority additionally plans to have a look at the “end-to-end expertise” that tenants undergo when renting a property. This can embrace discovering someplace to reside, renting and shifting between properties.

“The venture will look at the connection between tenants and landlords and the position of intermediaries, equivalent to letting brokers,” it mentioned.

Ms Cardell mentioned: “If there are competitors points holding again housebuilding in Britain then we have to discover them. However we additionally must be lifelike that extra competitors alone received’t unlock a home constructing increase.

“In the identical vein, we wish to discover the experiences folks have of the rental sector and whether or not there are points right here that the CMA might help with.

“We’ll in fact be guided by the proof, but when we discover competitors or client safety issues we’re ready to take the steps needed to deal with them.”