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CACI REVEALS TOP 20 BTR LOCATIONS IN THE UK

Kenneth Booth September 21, 2021

CACI, the consumer and location intelligence specialist, has revealed the top 20 areas best to invest in for build-to-rent (BTR) schemes across the UK. The research highlights developments are proving increasingly popular with residents, as more and more consumers are attracted to BTR schemes because of the ease and convenience

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Contractor prosecuted after spot check reveals multiple breaches

Kenneth Booth September 21, 2021

A construction contractor has been fined after multiple health and safety issues were identified during a proactive Covid spot check at a site in Manchester. Manchester Magistrates’ Court heard that on 9 July 2020, a HSE inspector performed a proactive Covid-19 spot check at a construction site in the city.

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KINGSPAN IKON INNOVATION CENTRE TAKES THE GOLD FOR GREEN DESIGN

Kenneth Booth September 20, 2021

Kingspan’s IKON Innovation Centre in Kingscourt, Ireland, has been recognised for its sustainable design and use of next generation building materials. Completed in 2019, the 1,950 square metre facility was created to act as the global development research, development and test hub for Kingspan products, and also to offer visitors

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Green Light For Second Phase Of Waltham Forest Regeneration

Kenneth Booth September 20, 2021

Waltham Forest Council’s development partner, Countryside, has secured planning permission to move forward with the transformation of the Town Hall Campus to build a new hub in the heart of the borough and creating hundreds of new jobs. The Waltham Forest development will continue to build on the success of the

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Industry reaction to latest Rightmove House Price Index

Kenneth Booth September 20, 2021

Managing Director of Barrows and Forrester, James Forrester, commented: “It’s to be expected that the astronomic rates of house price growth seen since the introduction of the stamp duty holiday will now start to subside as we approach the final deadline. But don’t be fooled into thinking the market will now

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Latest Issue
Issue 343 : Aug 2026

Kenneth Booth

Academic’s new building insulation invention to be brought to market through new Government-funded partnership

Kenneth Booth September 21, 2021

Leeds Beckett University has joined forces with Leeds-based ARC Building Solutions in a partnership, part-funded by the Government through Innovate UK. They will work together to create and bring to market new building insulation products – starting with the Retrofit Eaves Insulator – invented and patented by lead academic, Dr Matthew Brooke-Peat. Through the two-year programme, academic experts at Leeds Beckett University’s Leeds Sustainability Institute (LSI) and Leeds Business School will support ARC in setting up a specialised new product development department within the business to invent and bring new products to both the retrofit and new-build housing markets. The pilot project will be the Retrofit Eaves Insulator (REI), invented and patented by Dr Brooke-Peat and co-inventor Professor Christopher Gorse, which will allow homeowners to make their dwellings more energy efficient and cost effective. Dr Brooke-Peat, Architectural Technology Course Director at Leeds Beckett, explained: “A problem area for insulating existing buildings is at the eaves – the junction between the external walls and roof – which can result in high rates of heat loss. We have seen this in research projects in the LSI and have needed to find a solution to this energy efficiency problem for a long time. “A large market opening up currently is the retrofit market – thermally upgrading a building; which could be just the loft or the full house, including the walls. The eaves need to be insulated as part of this process – and, where the roof covering is already fitted, this is a tight space. We needed to invent an insulation product that could resolve the problem and be fitted easily in a confined space with restricted access.” The patent has now been licensed by Leeds Beckett University to ARC – with funding of £161,000 through the Government’s Knowledge Transfer Partnerships (KTP) programme to support the development of the REI and a whole new product development department for ARC. Neil Weeks, Managing Director of ARC, said: “ARC has worked in tandem with Leeds Beckett University for a number of years, using expert knowledge and skills to identify heat loss and carbon reduction in the new build sector. “The refurbishment sector is a vast market and existing homeowners of properties pre-2005 are in a unique position – to be able to reduce their carbon impact whist also reducing monthly heating bills. “ARC is keen to identify key opportunities for products that can positively influence carbon reduction are key to the long-term growth strategy of ARC as a business.” The KTP will begin with the recruitment of a full-time KTP Associate, who will be an experienced graduate. They will work with ARC and the academic team in establishing the processes and infrastructure needed to set up the new in-house product development department. The academic team will be led by principal inventor, Dr Matthew Brooke-Peat, providing the technical expertise relating to the invention and the construction industry; alongside the team at Leeds Business School, led by Paul Rhodes, Lecturer in strategic marketing and new product development – bringing expertise in finance, management and marketing. Dr Brooke-Peat said: “It is exciting to see an idea borne out of research coming to fruition as a marketable product, which will then be in use for a positive effect. It’s about implementing energy efficiency, which reduces carbon emissions – and in existing buildings.” “If we are going to stand a chance of meeting our targets for carbon emissions, we need to be looking at the existing building stock, which will still be around in 2050 when we are aiming to reach our zero-carbon target. This invention will help move us towards that. It is exciting to contribute to something so important that could go into many retrofit roof insulation projects going forward. The scale of its potential is vast.” Knowledge Transfer Partnerships (KTPs) aim to help businesses to improve their competitiveness and productivity through the better use of knowledge, technology and skills within the UK knowledge base.

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Premier Modular Achieves BOPAS Accreditation for its Modular Apartments Following Expansion into Residential

Kenneth Booth September 21, 2021

Premier Modular, one of the UK’s leading offsite specialists, has achieved BOPAS accreditation for its modular living solutions, following its expansion into the residential sector. Established in 1956 and with a long track record in offsite construction, Premier has five factories at its production centre in East Yorkshire. It has capacity to produce 100,000sqm of living space per year, with the opportunity to increase output to meet demand. BOPAS – the Buildoffsite Property Assurance Scheme – is the industry benchmark to give funders, principal mortgage lenders, valuers, and purchasers the confidence that homes built using offsite construction will have a life of at least 60 years. It also demonstrates the integrity of the offsite system, consistent delivery, and long-term performance to specification. Premier specialises in the offsite construction of affordable, sustainable and fast-track apartments, studios and multi-occupancy buildings for social housing, build-to-rent, schemes to address homelessness, hotels, and student accommodation. It works as a partner to local authorities, housing providers, developers, and contractors. Commenting on the new accreditation, Jeff Maxted of BOPAS and a Director of BLP Technical Services (UK), said, “It is fantastic to see Premier’s expansion into the residential sector, building on their vast experience in other areas. BOPAS is an independent, standards-led benchmark for modular housing, providing long-term assurance to lenders and valuers that homes built using non-traditional methods of construction offer longevity and reliability.” Dan Allison, Director of Premier Modular, said, “We are immensely proud to receive this industry accreditation which reinforces our expansion into the residential sector. BOPAS provides our local authority and developer clients as well as funders and mortgage lenders with complete reassurance of best practice and that our modular apartment solutions meet or exceed the required standards.” “We have ambitious plans to bring innovation and sustainability to the UK housing market. We already have a number of residential projects on site and nearing completion and are receiving a high level of enquiries for new schemes. We anticipate the demand for offsite construction will continue to increase to help address the housing crisis and the drive for net zero.” “We offer a range of modular solutions for low to mid-rise apartment developments, and the speed of offsite manufacturing will help to reduce housing waiting lists. We have also successfully demonstrated the structural stability of our building system beyond 15 storeys, giving our customers even greater confidence in our design and construction capabilities.” “The residential sector is facing considerable challenges – from the shortage of skilled labour to the need for increased productivity and improved quality in housebuilding to meet the rising demand for new homes. By moving the construction of new apartment schemes offsite and into a more controllable factory environment, we can produce energy-efficient homes with less impact on the environment, to reduced programmes, and significantly enhanced quality.” Premier has been awarded full BOPAS accreditation for design, manufacturing and construction. A rigorous assessment was carried out by BOPAS, which audited all aspects of Premier’s operations, including quality control systems, health and safety, project management, and interfaces, from design through to offsite manufacture, construction, and handover. BOPAS was established by the industry body Buildoffsite, BLP Insurance, the RICS and Lloyd’s Register. For further information, visit www.premiermodular.co.uk, call 0800 316 0888 or email info@premiermodular.co.uk.

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CACI REVEALS TOP 20 BTR LOCATIONS IN THE UK

Kenneth Booth September 21, 2021

CACI, the consumer and location intelligence specialist, has revealed the top 20 areas best to invest in for build-to-rent (BTR) schemes across the UK. The research highlights developments are proving increasingly popular with residents, as more and more consumers are attracted to BTR schemes because of the ease and convenience they provide. CACI’s data has unearthed significant opportunities outside London, with both Coventry in the West Midlands and Central Bedfordshire in the East of England achieving total ranking scores of 71% each for BTR investment potential.  The complete top 20 is: 1 Coventry 11 Cardiff 2 Central Bedfordshire 12 Maidstone 3 Aylesbury Vale 13 Arun 4 South Gloucestershire 14 West Lothian 5 Colchester 15 Barking and Dagenham 6 Milton Keynes 16 Manchester 7 Swale 17 Wealden 8 Sandwell 18 Peterborough 9 Ashford 19 Sheffield 10 Leeds 20 County Durham In London itself, Barking and Dagenham are the highest-ranking boroughs, largely driven by the rental income and quantity of potential customers.  The data also reveals there is a geographical pattern in London, with the biggest opportunity for BTR in the capital to the east and north of the city, largely driven by the underlying demographic of the area. More than £1.2 billion was invested into the UK’s BTR market in Q1 2021, the highest first quarter on record*.  To reflect the growing popularity of the sector, CACI’s BTR index has reviewed factors including rents, affordability, yields, volume of potential customers and population growth to create the ranking. Commenting on the research, Tolgar Necar, Managing Consultant at CACI said: “It’s clear from our ranking that the UK BTR market has established itself in a wide range of locations. The market is growing rapidly and destinations within the London commuter belt are becoming more appealing than ever for this younger generation looking for convenience and high-end schemes to live in. For more and more of these consumers, it is all about the ability to socialise as opposed to the size of the property, kerb appeal and having a garden are less important, which is reflective of their life-stage.” Managed services and facilities contribute hugely to the attractiveness of the schemes to prospective tenants, allowing developers to stand-out from the competition and achieve premium rental values, creating a win-win for developers seeking higher yields and renters happy to pay for these features.  Such premiums tend to gear developments towards higher-earning groups, often falling within CACI’s ‘rising prosperity’ Acorn segments, with aspirational ‘starting out’ groups also attracted by the ease and convenience that these managed schemes provide. CACI’s research has also identified the factors most relevant to such consumers when choosing a BTR location: proximity to friends, proximity to work, transport links, proximity to green space, the quality of local amenities (shops and F&B); and access to high-speed internet.  BTR schemes also typically offer high-spec units, with managed amenities and services – the best of which are highly targeted to the needs, wants and lifestyles of specific user groups and audiences. This latest index from CACI follows their latest research revealing the scale of demand for staycations in the UK this summer. * https://www.savills.co.uk/research_articles/229130/312837-0

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Contractor prosecuted after spot check reveals multiple breaches

Kenneth Booth September 21, 2021

A construction contractor has been fined after multiple health and safety issues were identified during a proactive Covid spot check at a site in Manchester. Manchester Magistrates’ Court heard that on 9 July 2020, a HSE inspector performed a proactive Covid-19 spot check at a construction site in the city. During the inspection, a host of safety issues were identified including working at height, welfare, Covid-19, site security, and electricity. The principal contractor was served with a Prohibition Notice and two Improvement Notices. A return inspection was made on the 17 August 2020, after very little communication from the principal contractor. Little or no improvements had been made regarding the issues and additional enforcement action was required, including a further Prohibition Notice regarding an unsupported excavation. It was subsequently established that the contractor had failed to comply with any of the Improvement Notices HSE had served. Principal contractor Umar Akram Khatab, now resident in Hollingwood Lane, Bradford, pleaded guilty to breaches of Section 21 of the Health & Safety at Work etc. Act 1974 and Regulation 13(1) of the Construction (Design and Management) Regulations 2015. He was sentenced to a 12-month community order. He was also ordered to pay £3,000 towards costs and a victim surcharge of £95. Speaking after the hearing, HSE inspector Rebecca Vaudrey said: “HSE prides itself on being a proportionate and evidence-based regulator. Since the beginning of the pandemic HSE has carried out more than 316,000 Covid spot checks, with the priority to urgently make workplaces safe from transmission risks, rather than heavy-handed enforcement. “These checks have demonstrated that the majority of employers want to do the right thing to ensure their workers go home safe and well. “This is the first prosecution to arise from the Spot Check programme. We’ve repeatedly stressed that prosecution is a last resort, but this case clearly illustrates that where there is consistent disregard to Covid or other risks to employees’ health and safety, HSE will use its powers to take action.”

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ENERGY CRISIS EXPERT COMMENT – Mike Foster CEO of Energy Utilities Alliance

Kenneth Booth September 21, 2021

Mike Foster, CEO of the Energy and Utilities Alliance, says: “The current energy crisis around gas supply and demand was entirely avoidable but that doesn’t help solve the problem now. In the short term, the tools available to help are limited and expensive but may be necessary to keep fuel poverty levels in check; to keep the lights on whilst still keeping an eye on our emissions. “In the longer term much more can be done and should be. This crisis should act as a wake-up call to get on with improving the energy efficiency of buildings; of ramping up of zero carbon power generation, that’s nuclear, wind as well as gas with CCS; but most of all seizing the opportunity to massively invest in hydrogen production, so we are no longer dependent of geology for our energy. “Above all, this crisis should put pay to the notion that we should electrify all domestic heating in the UK. We simply cannot load high seasonal heating demand onto a system that cannot cope. It would be reckless and irresponsible to do so.”

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KINGSPAN IKON INNOVATION CENTRE TAKES THE GOLD FOR GREEN DESIGN

Kenneth Booth September 20, 2021

Kingspan’s IKON Innovation Centre in Kingscourt, Ireland, has been recognised for its sustainable design and use of next generation building materials. Completed in 2019, the 1,950 square metre facility was created to act as the global development research, development and test hub for Kingspan products, and also to offer visitors a glimpse into the built environment of tomorrow. The building has now been certified LEED Gold, meaning that the design and construction demonstrated exceptionally high standards in terms of sustainability, energy use and innovation. LEED (Leadership in Energy and Environmental Design) is the most widely used green building rating system in the world. Developed by the US Green Building Council (USGBC), LEED provides a framework for healthy, highly efficient, and cost-saving green buildings. Accreditation is achieved by accumulating credits for various aspects of design, construction and operation. Credits are awarded in eight categories, including energy & atmosphere, materials & resources, water efficiency, and innovation.  IKON contains state-of-the-art innovation, prototyping and testing labs, and is home to a team dedicated to researching and developing advanced material science with the focus on recyclability, thermal efficiency and reducing the embodied carbon in building products throughout their lifecycle. The building also has a state of the art Digital Twin which was created during the build process and has been expanded to an operating twin that allows for real time data collection which will further the application of the LEED framework. The IKON Innovation Centre is the only office building in Ireland that is certified LEED Gold. Mike Stenson, Kingspan’s Global Head of Innovation, said: “As part of our Planet Passionate programme we’re committed to achieving net-zero carbon manufacturing by 2030 and to developing industry-leading products, solutions and services that set new standards in terms of lower embodied carbon, thermal efficiency and overall product performance. “Being awarded Gold for our IKON Innovation Centre is an important symbol of our commitment to a better built environment. I am very proud of the team who helped us to achieve this recognition, including the many partners, such as the building general contractor CGDM, Niall Smith Architects and Millimetre Design, who worked with us to find solutions at every step of the journey.”

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HS2 unveils the ‘beating heart of HS2 in London’ at its London logistics hub

Kenneth Booth September 20, 2021

HS2 has recently revealed the colossal logistics operation that is taking place at HS2’s logistics hub near Willesden Junction. The 30-acre site will be the beating heart of the logistics operation for HS2 in London, and will be where earth from the 26 miles of tunnel will be processed and critical construction materials, such as pre-cast tunnel segment rings, will be delivered. The hub has been constructed and will be operated by HS2’s Main Works Civils Contractor, Skanska Costain STRABAG joint venture (SCS JV). The construction of HS2’s London tunnels will require 5.6million tonnes of earth to be excavated. After being processed at the site near Willesden Junction, it will be taken by train to three locations across the UK – Barrington in Cambridgeshire, Cliffe in Kent, and Rugby in Warwickshire – where it will put to beneficial reuse, filling voids which will then be used as a basis for redevelopment, such as house building. The site will also receive over 100,000 pre-cast tunnel segment rings which will be used to form the walls of the London tunnels, delivered by rail from UK manufacturing sites. HS2’s contractor SCS JV has already confirmed that the first contract for pre-cast tunnel segment rings has been awarded to Pacadar UK, and will be delivered to the site from their factory in the Isle of Grain in Kent. At peak operation, eight trains per day will depart and arrive at the logistics hub, maximising the use of rail freight in the construction of HS2 in London and resulting in one million lorry movements not going on UK roads. Speaking at the opening of HS2’s Logistics Hub, HS2’s Chief Executive Officer, Mark Thurston said: “In building Britain’s new high-speed railway, HS2 is committed to protecting the environment and minimising our carbon footprint during design, construction and operation. As a result, we are moving as much material as we can by rail as part of our Materials by Rail programme. “The logistics hub at Willesden will be the beating heart of our London logistics operation and is a critical part of how we are building HS2.” The operation is being coordinated from a refurbished building on the site. Sheffield based SME, 3Squared, has developed a bespoke rail logistics software solution to manage and track the railway materials movements in and out. Speaking about the scale of the operation, Skanska Costain STRABAG joint venture Managing Director, James Richardson, said: “The logistics hub is central to the London Tunnels programme. Collaborating with other partners delivering HS2, we will remove 5.6million tonnes of spoil by rail and bringing in our tunnel segments, taking one million lorry journeys off the road. We are committed to reducing our environmental impact and by using rail we will reduce our carbon emissions for logistics by 40%.” Tim Jones, Managing Director of 3Squared, said: “It is fantastic to see the hard work and effort coming to fruition in this large-scale logistics operation, which will radically improve efficiencies and operations across the wider UK transport network. Joining the HS2 project has marked an exciting chapter in 3Squared’s journey, and we look forward to continuing to work with SCS JV and providing our technological skill and expertise, as HS2 progresses.” The London Logistics Hub sits on the old Freightliner Terminal site that first opened in 1967. It went on to become one of nine regional freight terminals developed specifically to handle Channel Tunnel intermodal traffic but eventually went into disuse in 2005. The site’s connections to the conventional railway make it an ideal location to coordinate HS2’s London logistics operation. The logistics trains are currently operated by GB Railfreight and the entire operation is the result of meticulous planning between HS2, Network Rail, SCS JV and HS2’s supply chain. The first train departed the site at the end of June, taking 1,470 tonnes of spoil to Barrington in Cambridgeshire. John Smith, Managing Director of GB Railfreight said: “Today’s opening marks a huge commitment to reducing the impact of carbon emissions caused by construction and we’re proud to jointly recognise this with HS2 by unveiling the fittingly rebranded Class 66, ‘The Green Progressor’. “HS2 Willesden’s logistics hub promises to support the growth of rail freight in the UK by removing one million HGVs from our capital’s roads alone. By increasing the amount of material transported by rail freight for the construction of HS2 in London, GBRf will continue to play a leading role in the delivery of Government’s net zero targets and the decarbonisation of transport.” Nick Coles, Programme Manager, Network Rail, said: “We’ve been working with HS2 and its supply chain on their plans to move excavated materials by rail from the Willesden logistics hub. Timetable, operations and infrastructure preparations have long been in the making and it is a credit to all parties involved that freight services have started life so smoothly.  “Today, the UK railway network is supporting approximately 60 rail freight services a week for HS2 and we’ll continue to work closely with its industry partners to make as many carbon savings as possible.”

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Green Light For Second Phase Of Waltham Forest Regeneration

Kenneth Booth September 20, 2021

Waltham Forest Council’s development partner, Countryside, has secured planning permission to move forward with the transformation of the Town Hall Campus to build a new hub in the heart of the borough and creating hundreds of new jobs. The Waltham Forest development will continue to build on the success of the first phase of works that completed in July 2021 seeing the historic Grade II listed Town Hall fully refurbished and the creation of Fellowship Square and water feature. The schemes‘ design respects the heritage setting, improves connectivity across the site and the delivery of the new Civic Building will complete architect Phillip Hepworth’s original design intent. Countryside was selected in January 2020 as the delivery partner for the second phase redevelopment, which includes the building of 433 homes on the campus site, landscaping, and the construction of a brand-new civic building. It will drive economic recovery in the borough and bring hundreds of new jobs to the area, including over 600 during construction and over 800 supply chain jobs, as well as nearly approximately 160 additional jobs from new commercial and community uses. There will also be a programme for schools and colleges to visit and learn about apprenticeships and training opportunities. The residential scheme addresses the climate emergency by being car-free, providing 815 secure cycle spaces, over 200 new trees planted, provide renewable energy through PV panels, deliver landscaping that promotes biodiversity and mitigates flooding. Subject to a Section 106 agreement, work will start later this year with the first new homes being ready to occupy in early 2023. As phase two progresses, Waltham Forest Council will continue engaging with local residents and the community to gain essential feedback on the transformation. Countryside will be working alongside the Council for the remainder of the redevelopment, ending in 2024. Phase two includes: Building more than 433 new, high-quality homes prioritised for local people, with a target of 50% affordable. 11% of these will be wheelchair adaptable homes A new Civic Building with ground floor café/restaurant space opening onto Fellowship Square Restoring the war memorial with a better space for memorial events New landscaped gardens with over 200 new trees and play facilities on Chestnuts Field A new crèche/nursery space A new shop/commercial space. Sustainable communities for future generations Kevin Delve, managing director, East London, Countryside, said: “We really are honoured to have been appointed by Waltham Forest Council on such a prestigious project in the heart of the borough. “Having worked in the borough since 2013, we are deeply aware of our responsibility here in Waltham Forest; not just to build high-quality homes but to create sustainable communities for future generations. “To ensure this, we are putting local people at the heart of the project, working closely with the council and local people to ensure that the new architecture and amenities encourage Waltham Forest’s rich cultural history.”

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Work on £300m fourth berth at London Gateway to begin in October, DP World confirms

Kenneth Booth September 20, 2021

Project will increase the capacity of London Gateway logistics hub A Dubai-based logistics company has announced that it will begin work next month on a new fourth berth at its London Gateway logistics hub. The £300m scheme, which is designed to increase supply chain resilience and create more capacity for the world’s largest vessels, comes on top of the £2bn DP World has ploughed into the UK over the past decade. British ports have been under pressure from Brexit and coronavirus-fuelled stockpiling surges that have caused UK businesses to face vastly higher container shipping costs than normal. This has been one of the factors helping drive pressure on the construction materials crisis. Sultan Ahmed Bin Sulayem, group chairman and chief executive of DP World, said: “As a central pillar of Thames Freeport, London Gateway’s new fourth berth will allow even more customers to benefit from world class ports and logistics, with unrivalled global connectivity, on the doorstep of Europe’s largest consumer market.” In the first six months of 2021 London Gateway saw record throughput of 888,000 20-foot-long containers – up 23% on the previous best performance for the first half of a year. The new fourth berth will raise capacity by a third and completion will coincide with the delivery of a new wave of 24,000 20-foot-long container vessels in 2023/2024, which will all be operated between Asia and Europe. Along with the Port of Tilbury and Ford’s Dagenham plant DP World London Gateway will form the Thames Freeport, which was awarded freeport status by the government earlier this year. DP World Southampton has also been awarded freeport status as part of Solent Freeport.

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Industry reaction to latest Rightmove House Price Index

Kenneth Booth September 20, 2021

Managing Director of Barrows and Forrester, James Forrester, commented: “It’s to be expected that the astronomic rates of house price growth seen since the introduction of the stamp duty holiday will now start to subside as we approach the final deadline. But don’t be fooled into thinking the market will now deflate like a cheap birthday balloon. Buyer demand is extremely high and property prices will remain robust, largely driven by second and third rung buyers upgrading to larger, higher-value homes.” Director of Benham and Reeves, Marc von Grundherr, commented: “We’re heading into an extremely busy period where the property market is concerned and so the expiry of the stamp duty holiday and its impact on the market is going to be far less pronounced than first feared. With the stamp duty holiday causing manic market conditions and long delays to transaction times, many homesellers and buyers chose to retreat until the rush had subsided, having long given up hope of a stamp duty saving. However, we will now start to see them emerge from their boltholes and this additional stock will help rejuvenate the market throughout the remainder of the year. The London market, in particular, is poised for a strong finish with an abundance of stock now available and a sharp uplift in domestic and foreign demand being driven by pandemic restriction lifting both where the workplace and travel are concerned.” Founder and CEO of GetAgent.co.uk, Colby Short, commented: “It’s fair to say that the process of selling first to improve your buying position has long been a tactic utilised by UK homebuyers and so we’re not seeing the ‘rise of the power buyer’ as such. That said, a high level of competition for a limited level of stock has highlighted the importance of a strong buying position when it comes to securing your ideal home. Unfortunately for the nation’s first-time buyers, those with an existing property to fund their onward purchase are in a far stronger position when it comes to placing an offer and this has pushed up the cost of buying quite considerably. As a result, those looking to buy their first home are now paying 12% more compared to just 12 months ago. However, the cost of borrowing remains very favourable and given current market delays, some sellers will place the stronger position of a first-time buyer above that of a few thousand pounds extra.”

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