This follows an investigation launched last year by the Competition and Markets Authority (CMA) over concerns that seven housing developers, Barratt Redrow, Bellway, Berkeley Group, Bloor Homes, Persimmon, Taylor Wimpey and Vistry, shared details about pricing, number of property viewings, and buyer incentives.
The investigation originally concerned eight housebuilders, but Barratt Homes and Redrow have since merged.
It was suggested these practices were affecting the prices of new homes and the build-out of sites.
The £100m payment is the largest secured by the CMA and could help fund hundreds of new homes across all four nations in the United Kingdom.
The housebuilders have also agreed to legally binding commitments to prevent anti-competitive behaviour and promote compliance across the industry.
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These commitments will form part of a number of measures that the CMA will consult on until 24 July.
This will include working with the Home Builders Federation and Homes for Scotland to develop industry-wide guidance on information sharing, and ensuring that housebuilders agree not to share certain information with other housebuilders, including the prices at which houses have sold, except in limited circumstances.
If accepted, the commitments will be legally binding meaning the CMA will not need to decide if competition law has been broken, and investigations can be easily launched.
Sarah Cardell, chief executive at the CMA, said: “Housing is a critical sector for the UK economy and housing costs are a substantial part of people’s monthly spend, so it’s essential that competition works well. This keeps prices as low as possible and increases choice.
“As a result of the CMA’s investigation, housebuilders are taking clear and comprehensive steps to ensure they comply with the law and don’t share competitively sensitive information with their rivals.
“Alongside these measures, the housebuilders we investigated have agreed to pay £100m towards affordable homes programmes, which will help communities up and down the country.”
