Chancellor provides £2.3bn for regeneration and housing
Chancellor Rachel Reeves has used her annual Mais lecture to unveil a £2.3bn fund for city centre projects and large regeneration schemes.
Up to £1.7bn of the City Investment Funds will go to mayors of Northern cities. The government said the funding would “attract and unlock much larger sums from private investors, giving local leaders the tools and confidence they need to plan ahead”.
The money is set to support jobs and development in cities including in Leeds South Bank, Liverpool Central, Manchester Victoria North, Newcastle and Gateshead Quays and Sheffield City Centre and Innovation Spine.
One in four construction workers now under 30
Long-held fears about an ageing construction workforce were challenged this week, with data from the Construction Skills Certification Scheme (CSCS) revealing that one in four CSCS cards is held by a worker under 30.
CSCS used the Smart Check system to scan cards, finding that 25% of workers were aged under 30. In 2021, this figure was 17%.
Sean Kearns, Group Chief Executive of CSCS, said: “It is incredibly positive to see that young people are choosing construction as a career.
“Now the focus must be on sustained upskilling and retaining this talent across the industry, ensuring we develop a workforce that is adaptable, futureproof and ready to support long-term growth.”
Average first-time buyer age climbs to 34
Research from the Skipton Group has found that the average age of a first-time buyer in England has risen to 34.
Back in the mid-90s, the average first-time buyer was 29 years old.
The rising average age has been driven by a collapse in the portion of first-time buyers under 25 to just 6%, having made up a quarter of those buying their first homes in the 1990s.
Skipton Group chief executive Stuart Haire said the results showed “the aspiration of homeownership has been pushed further out of reach for many younger adults, delaying independence and stability”.
More than half of first-time buyers now need two incomes to make a purchase, compared to just 40% in the 1990s.
New report reveals subcontractor challenges
Research from the Finishes and Interiors Sector has found that subcontractors working in the housing sector are providing more than 11 weeks of credit because of payment terms and delays.
In addition, two-thirds of the 93 respondents said they had been hit by post-award price reductions, despite having previously agreed contracts.
Iain McIlwee, chief executive of FIS, said: “For too long, aggressive, price first, procurement, inconsistent and delayed payment, post‑award price reductions and regressive retention practices have weakened the specialist supply chain.
“These behaviours are structural barriers that restrict capacity, inhibit workforce development and diminish the sector’s ability to perform and ultimately invest in more modern methods of construction. They create volatility where stability is essential and they deter vital investment in people and modernisation.”
Developer and supply chain updates
Vistry Group has appointed Rob Woodward as its new non-executive chair, succeeding Greg Fitzgerald at the AGM on May 13 as part of a wider leadership transition. Fitzgerald is stepping back from his dual executive chair role and is expected to hand over as chief executive within the next year.
Woodward, who joined the board as senior independent director in 2024, has been closely involved in governance, investor relations and succession planning. The appointment is intended to ensure continuity as Vistry progresses its leadership reset and long-term strategy.
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Marshalls reported a modest recovery in 2025, with revenue rising 2% to £632m, marking its first growth since the 2022 acquisition of Marley. The increase was driven by 4% growth in both its Building and Roofing Products divisions, partially offset by a -1% decline in Landscaping Products.
The results follow a period of declining revenues since the Marley deal, with turnover falling from £719.4m in 2022 to £619m in 2024. Marshalls said its Viridian Solar division remained a standout performer, highlighting continued strength in roof-integrated renewable products.
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NHBC has opened its first multi-skill construction training hub in Lichfield as part of a £100m programme to tackle skills shortages and support delivery of 1.5 million homes. The facility is the first of 12 planned across the UK, with the network expected to train up to 3,000 apprentices annually in real site conditions.
The Lichfield hub, developed in partnership with Construction Industry Training Board and with land provided by Redrow Homes, will train around 200 apprentices a year. NHBC said the initiative is aimed at strengthening the construction workforce across the Midlands and beyond.
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