The rapid property correction has stripped more than a billion pounds off the value of British Land's assets but its portfolio remains almost full as tenants seek refuge from the economic storm in prime shops and offices.

Property firm Derwent London said it would not start new development projects until 2010/11 due to weak central London occupier demand and the difficult investment climate in the property market.

Engineer IMI said on Wednesday it is confident of meeting 2008 expectations on continued revenue momentum, but cautious on the outlook given recent weakening in some of its markets.

Housing builder Barratt Developments said continuing price pressures are having a negative impact on its operating margins, and that it expects further writedowns by December.

Increasingly desperate sellers slashed asking prices for homes in England and Wales by 2.9 percent in November, pushing them 7.1 percent below their level a year ago, a survey showed on Monday.

U.S. private equity groups are thinking about making a bid for Taylor Wimpey , The Observer said on Sunday.

JCB is to shed almost 400 jobs.

Over 40 major construction trade bodies and building groups have signed up to the Welsh National Assembly’s Green Charter to slash carbon emissions in new housing.

Taylor Wimpey said efforts to renegotiate its bank debt had been slightly disappointing, sending shares in Britain's largest housebuilder as much as 19 percent lower.

Private equity firm TDR Capital is in talks to inject cash into Taylor Wimpey in exchange for a stake in house builder by number of homes, the Mail on Sunday reported.

Galliford Try , the construction group, warned Friday that it would have to make a 50 million pounds writedown on its housebuilding operations in the first half of 2008/09 and said it was taking "a more cautious view" of prospects for both this year and next.

The Mayor of London has pledged to build 50,000 new homes, but removed his predecessor’s target that 50 percent of all new housing in London must be affordable.

‘The Nation’s Local Builder’ has announced its annual revenue will fall £120 million short of the company’s original estimates.

The construction sector shrank last month at its fastest pace since records began more than a decade ago after falling house prices and tight credit took their toll, a survey showed on Tuesday.

Cement manufacturer Cemex may have to close its Cambridgeshire plant.

Construction and engineering firm Balfour Beatty said Tuesday that trading since June had remained strong thanks to its involvement in infrastructure projects.

The ‘Greener Homes for the Future?’ bill has stated that, in the light of the credit crunch, the government needs to re-think its plans to build three million new homes by 2020.

A gloomy warning accompanied sales statistics from the Quarry Products Association.

House prices fell in October at their sharpest annual rate since records began in 1991, the Nationwide building society said on Thursday, as the housing market slump gains momentum.

Aberdeen-based DOF Subsea UK has gained a major positioning contract with Heerema Marine Contractors.

The North Wales construction group has gone into administration with debts which could total as much as £100 million.

Struggling manufacturer Cosalt Holiday Homes has been bought by Endless Investments, but 289 jobs will be lost.

English and Welsh house prices fell by 7.3 percent in the year to October, with the pace of decline accelerating to take prices back to their lowest since March 2006, property consultancy Hometrack said on Monday.

Housebuilder Persimmon said on Monday that falling house selling prices have resulted in it writing down the value of its land holdings by a further 600 million pounds.

Nick Clegg, leader of the Liberal Democrat party, has called for the construction of a ‘Supergrid’ across the North Sea.

The Belfast-based international construction company, formerly one of Northern Ireland’s largest, has called in administrators with debts estimated at £150 million.