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Britain's housebuilders are building fewer homes in the face of tighter mortgage lending and an uncertain price outlook, but slashing volumes and costs may not be enough to lure back investors to the battered sector. Britain's major builders completed fewer homes last year - about 76,000, down around 10 per cent on 2006 - as higher interest rates and the global credit crunch drove away buyers. And things are set to get worse, with analysts predicting 10-16 per cent fewer new homes this year, a price fall of around three to five per cent and a drop of some 20 per cent in transactions. Such worries have pushed shares of major house builders including Barratt and Taylor Wimpey down more than 50 per cent in the past six months.

The stocks have recouped some of the losses since mid-January, as value investors entered the market, but analysts warn of tougher times ahead and prolonged volatility, as data so far sends mixed signals on the market conditions. "Tighter credit is the major constraint, and this is unlikely to change for a while. So no one is expecting that a short, sharp shock will be followed by a swift, V-shaped recovery," Charles Stanley analyst Tom Gidley-Kitchin said.

Citigroup and KBC analysts agree the sector is cheap, but they caution that any revaluation is unlikely until late next month and May when more solid data on the spring selling season is available.

1. Anti-French fury in the Comoros Islands data: 07.04.08
Jonny Hogg visits the Comoros Islands where warmth turns to fury as people accuse the French of helping their rebel leader escape.

2. City: Cineworld's Depp pockets data: 19.03.08
Bumper audiences flocked to cinemas last year to enjoy a string of blockbuster movies.

3. 'Don't call him Boris,' Tessa Jowell tells Labour data: 07.04.08
Labour ministers and MPs have been banned from referring to Boris Johnson, the Tory candidate for London mayor, by his first name, it emerged yesterday.

4. Jean Todt’s talk with the press data: 27.03.08


5. Trial opens in London for 8 accused of plotting suicide attacks on trans-Atlantic airliners data: 07.04.08
Prosecutors said Thursday that the suspects had planned to inflict heavy casualties "in the name of Islam" by igniting liquid explosives as planes flew from London to the United States and Canada.

6. Gloria Taylor data: 10.04.08
Mother of Damilola Taylor who rose above her grief to campaign for the underprivileged.

7. Asian shares drop on concern over bank earnings data: 27.03.08
Bank stocks like Mitsubishi UFJ and Macquarie Group were among the biggest decliners following the bank downgrades, a profit warning from Deutsche Bank and comments from European central bankers that there was no end in sight to the global credit crunch.

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8. Barroso in change plea to Mugabe data: 10.04.08
European Commission President Jose Manuel Barroso says the people of Zimbabwe have voted for change.

9. The evolution of CyberCrime Inc. data: 07.04.08
Online crime is maturing, and the Internet criminal of today is adopting everything from supermarket-style pricing to outsourcing.

10. US urged to end travel ban on Nelson Mandela data: 10.04.08
US Secretary of State Condoleezza Rice has asked for a long-standing ruling which means former South African president Nelson Mandela and his party are blacklisted from entry to the US, to be repealed.

11. Apple mulls unlimited music bundle data: 19.03.08
Apple is in discussions with the big music companies about a radical new business model that would give customers unlimited access to its entire iTunes music library in exchange for paying a premium for its iPod and iPhone devices

12. Heather Mills's 'exaggerated career claims' data: 19.03.08
Heather Mills' 'exaggerated career claims'

13. Captain Birdseye actor John Hewer dies data: 19.03.08
The actor who starred as Captain Birdseye in the adverts for fish fingers for more than thirty years has died

14. F1 Pole Poll Vote data: 27.03.08


15. Sorrell stands by former Clinton adviser data: 10.04.08
The WPP chief concedes that Mark Penn had erred in judgment when he met with a Colombian official but says the episode will not lead to a change in the group's policies

16. Gordon Brown to use Tony Blair election slogan to woo voters data: 07.04.08
Gordon Brown will borrow one of Tony Blair's election slogans as he tries to win back disaffected voters in southern England.

17. Can the Dalai Lama resign? data: 19.03.08
It's been suggested the Dalai Lama would resign if Tibetans launch an armed struggle with China. But is that possible?

18. Payout for death of Olympic hopeful, 15 data: 07.04.08
The parents of a teenage diver tipped for Olympic glory have won undisclosed damages from the swimming club where he lost his life.

19. Clashes at Olympic torch relay data: 07.04.08
Police arrests dozens and change the route of the Olympic torch relay to avoid protests in London.

20. Burma releases constitution data: 10.04.08
A constitution drafted by Burma's military rulers goes on sale in government shops, ahead of a May referendum.

21. Heather Mills torn to shreds by Sir Paul McCartney divorce judge data: 19.03.08
Heather Mills has seen her reputation left in tatters after the High Court judge presiding over her divorce from Sir Paul McCartney tore into her character, accusing her of "make-belief", inconsistency and inaccuracy.

22. Police warning to Shannon estate data: 10.04.08
Police warn neighbours of Shannon Matthews' family against taking the law into their own hands.

23. The need to share a dark secret data: 07.04.08
Felix Dennis has retracted his "confession" but why do people suddenly own up to murder years later?

24. Blacksliding on reform is seen in new EU states data: 07.04.08
The European Union's eastward expansion aimed to cement former Communist countries into a bloc committed to pluralism, democracy and good government. But the new members have a tendency to backslide and succumb to "reform fatigue," according to a recent academic study.

25. Judges rule in Saudi arms inquiry data: 10.04.08
Judges are to rule whether the scrapping of a probe into a controversial UK-Saudi arms deal was illegal.

26. German Catholic Church details wartime use of forced labor data: 10.04.08
The church exploited nearly 6,000 forced laborers in the Nazi era, it said in an extensive report Tuesday on a dark chapter in its history.

27. Georgia says NATO should not bow to Russian pressure data: 27.03.08
NATO leaders risk enflaming regional tensions if they bow to Russian pressure and block the membership aspirations of Ukraine and Georgia at a summit next week, Georgia's foreign minister warned Wednesday.

28. Afghan suicide attack kills eight data: 10.04.08
A suicide car bomb explodes in the southern Afghan city of Kandahar, killing at least eight civilians, officials say.

29. Sign our Armed Forces Day petition data: 07.04.08
We call upon the Government to hold an annual Armed Forces Day as a way to honour the soldiers, sailors, airmen and women on active service today.

30. One in 10 school teachers have a 'top' degree data: 10.04.08
Fewer than a 10th of secondary school teachers have a top degree from a leading university in the subject they teach.


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