Bovis said the future direction of the market was uncertain

Total home sales fell 16% in the first six months of 2005 in what Bovis described as a "subdued" marketplace.

This contributed to a 32.4% drop in profits to �45.1m ($82.5m).

Bovis Homes warned of "considerable uncertainty" for the housing market for the rest of 2005, but insisted that its long-term prospects were good.

Revenues fell to �214.5m in the six months to 30 June from �271.7m in the same period last year.

Consumer confidence

Bovis Homes is the latest housebuilder to report falling profits as the slowdown in the housing market over the past year takes its toll.

Consumers are displaying more caution Sir Nigel Mobbs, Bovis Homes chairman See Bovis' share price

Taylor Woodrow and George Wimpey have also seen profits drop.

The company said the average sale price of its properties was lower than last year as it had sold more affordable homes for public sector workers.

Forward orders are down 3% on last year but the firm said it still hoped to increase total home sales in 2005.

"Activity in the UK housing market relies heavily on the confidence of the consumer," said chairman Sir Nigel Mobbs.

"Consumers are displaying more caution, with many delaying the decision to move house."