LONDON (MarketWatch) -- Homebuilder Barratt Developments said Tuesday that, in the 19 weeks to Nov. 9, visitor levels fell 5.8% compared to last year, while private net reservations fell 23%. The firm said that it has seen a pick up in visitor levels and reservations since the start of September, following enhanced marketing and increased discounts. Although operating costs continue to reduce, increased discounts are exerting continued downward pressure on margins, the firm added. Average comparable selling prices are expected to fall by between 15% to 20% at the end of December, after peaking in July 2007. Further write-downs to land and work-in-progress are expected to be required at Dec. 31.

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