<p>Taylor Wimpey, in a downbeat interim trading statement today (November 11), has warned that there is no sign in the short term of a recovery in the UK housing market and that the Group is likely to make further provisions against land and work in progress.</p> <br><p>The firms said that in the second half of the year to date net private reservations average 165 per week, 27% down the second half of 2007 (225).</p> <br><p>The firm says it is pricing "competitively" , a policy adopted by many competitors increasing the downward pressure on pricing and challenging volumes. </p> <br><p>The firm is now building below sales rates and has reduced sales outlets from 500 to 400. Current orders stand at 6607, 40% down on this time last year (11,074).</p> <br><p>The firm is still in discussions with its banks over its debt which stands at £1.9 billion.</p>