The UK Competition and Markets Authority (CMA) plans to close its investigation into seven major UK housebuilders by accepting a set of voluntary commitments, according to a statement
released by Taylor Wimpey (LON:TW) on Wednesday.
Launched in February 2024, the CMA’s investigation focused on industry practices between January 2022 and February 2024. The watchdog has not found any evidence of wrongdoing by Taylor Wimpey or the other companies involved.
Under the proposed resolution, the housebuilders have agreed not to share certain categories of information with one another and will support the creation of new industry guidelines on data exchange.
As part of the commitments, the seven firms will contribute a total of £100 million to the Government’s Affordable Homes Programme. Taylor Wimpey’s share of the contribution will be £15.84 million, to be paid within three months of the CMA's formal acceptance. The company confirmed this amount will be recorded as an exceptional item in its upcoming half-year results.
The CMA is currently holding a consultation on the proposed commitments, which will remain open until July 24, 2025. A final decision will be made following the consultation period.
Taylor Wimpey expressed support for the CMA’s approach and said it will continue to cooperate as the process moves forward. The company emphasized that the commitments do not represent an admission of any misconduct by any of the parties involved.