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Six months before CMA update on agents' alleged Competitions Act breach

It is thought likely that there will be no new update on the investigation into agents’ alleged infringement of the Competitions Act until September.

On Friday last week the Competitions and Markets Authority announced a probe into an unnamed agency or agencies, which followed the authority’s investigation into an earlier cartel case involving agents in the Burnham-on-Sea area of Somerset. 

That case involved agencies Abbott and Frost Limited, Gary Berryman Estate Agents Ltd (and its parent company Warne Investments Limited), Greenslade Taylor Hunt and West Coast Property Services (UK) Limited.

In 2015 those agents agreed to pay over £370,000 to the CMA after admitting illegal price-fixing.

Although the new probe is as a result of the Burnham case, the CMA is not saying whether it relates to agents in the same area, or to the same kind of alleged offence, or both.

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