Ahead of this, the OFT is writing to stakeholders to ask for their views and engage with them to discuss the scope and scale of the study, which will commence in early 2009.
The OFT proposes that the market study should take a comprehensive look at home buying and selling in terms of:
competition on price and quality between service providers
the prospects for new entry by, in particular, internet property retailers, and
the extent to which consumer interests are protected by the existing regulatory framework.
The study may also cover the relationships between estate agents, and mortgage brokers, surveyors, solicitors and other professional advisors.
The OFT will be discussing these issues with Government, devolved administrations, consumer groups and industry in the run-up to the launch in order to refine the scope of the study.
John Fingleton, OFT Chief Executive, said: 'Buying or selling a home is something most people do only a few times in their life, but it is usually the biggest transaction they will make. We want to ensure that consumers are served well when buying or selling a home and are supported by an effective, competitive and innovative market.
'Before embarking on such an important piece of work, we want to engage with the industry and consumer groups to get a clear idea of the most salient issues we should focus on.'
