The Office of Fair Trading (OFT) has published the results of its market study into new homebuilding. Although the OFT found the market to be competitive, it was apparent that many homebuyers experienced faults and delays. It was concluded that an industry code could be established to resolve these issues, which would be finalised by March 2010. If such a code failed to address the problems highlighted by the market study, the OFT has suggested the implementation of a statutory redress mechanism to protect purchasers of new homes.