BUZZ-UK residential: bullish broker spurs yet more sector gains

** UK residential stocks notch strong gains as Jefferies makes sweeping recommendation upgrades

** Raises 7 stocks to "buy" vs "hold" & three to "hold" vs "underperform"

** Barratt Developments (LSE: BDEV.L - news) & Taylor Wimpey 3rd & 4th top risers on FTSE 100 (lifted to "hold" & "buy" respectively)

** FTSE 250 leader board loaded with Countrywide , Bellway (LSE: BWY.L - news) , Crest Nicholson & Zoopla (all 4 upgraded to "buy")

** Jefferies reckons all cos it follows are reflecting on stronger Q1 than they had envisaged at its start

** Broker cites Help to Buy as a tailwind for new build, says lettings market growth has countered housing transaction weakness for the UK estate agents & with the portals, OnTheMarket.com's delivery not matched its rhetoric

** Thomson Reuters UK Homebuilding index hits all-time high on Friday

** Taylor Wimpey (LSE: TW.L - news) , Persimmon & Barratt among top ten performers in FTSE 100 in last 3 mths, all up >25 pct; on FTSE 250, Rightmove (LSE: RMV.L - news) 5th-best gainer over period, up 46 pct

** Buyside see scope for sector to make record margins, & cash returns are a reality

** If anything, PMs have ruled out election risk given political parties' thoughts aligned: country needs more houses (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)