Speculators, short-sellers and market rumours were held responsible for wild swings in housebuilders’ share prices on Thursday, with Barratt Developments gaining ground for only the second time in four weeks.

The debt-laden developer’s shares promptly fell 17 per cent in morning trading, sending them close to the all-time low they reached on Wednesday, the point at which the company issued an unexpected announcement to the London Stock Exchange in an attempt to calm investor fears over its future.