UK Housebuilders

Research evidence excerpt

UK Housebuilders

RBC Europe Limited

Anthony Codling (Analyst)

+44 20 7429 8145,

anthony.codling@rbccm.com

Oliver Dyson (Analyst)

+44 20 7002 2645,

oliver.dyson@rbccm.com

June 30, 2026

UK HousebuildersRESEARCH Breaking Bricks: £4.5bn class action against UK Housebuilders

Our view: A class action has been launched against a number of major housebuilders alleging that

anti-competitive behaviour led to homebuyers paying inflated prices for new homes. We believe that

homebuilders are price takers not price setters and compete against the much larger existing homes

market with new build sales accounting for around 12% of housing transactions. House prices are set

by willing buyers and willing sellers, no one is forced to buy a particular home. Before this class action

can proceed to trial the Competition Appeal Tribunal must formerly certify the claim. In our view the

claim is difficult to prove, and we note that the CMA's recent investigation into housebuilders did notEQUITY

conclude that the Competition Act had been infringed.

What has happened?

A class action lawsuit, which was first mooted in January 2026, has been launched targetting the UK's

largest housebuilders potentially seeking up to £4.5bn in compensation. The class action has been

launched by Mark McLaren who previously worked at consumer Group Which? The action alleges than

anti-competitive behaviour by UK housebuilders led to homebuyers paying inflated prices for homes.

It was first reported that Mark McLaren would launch a competition damages claim on behalf of UK

homebuyers in January 2026.

The class action case alleges that property buyers paid more for new build homes than they should have

because of reduced competition between the major builders - arguing that this was affecting buyers as