The UK's Competition and Markets Authority (CMA) is investigating leading housebuilders for possible collusion on pricing.

The inquiry targets major firms such as Barratt, Bellway, and Persimmon, following a year-long review of the housebuilding industry.

The CMA has expressed concerns regarding the quality of new homes, excessive estate management charges, and issues within the planning system.

As a result of the investigation, the share prices of the implicated housebuilding companies have declined.

The CMA's scrutiny comes amid a housing shortfall, with less than 250,000 new homes built last year, missing the target of 300,000 for England.

CMA chief Sarah Cardell has stressed the necessity of addressing any anti-competitive practices that might influence home development and pricing.