The roof fell in on the housebuilders yesterday as the sector's biggest bull turned negative.

After visiting 60 new homes sites in southern England, Merrill Lynch analyst Mark Hake said he had concluded the time was right to cut his ratings on Barratt Developments , down 5 per cent to 346¾p, Redrow , off 2.2 per cent to 286¼p, Bovis Homes , 3.6 per cent weaker at 494p and Taylor Wimpey , off 5.6 per cent to 150¾p.