Many first time buyers may be looking towards tool hire to extend their home to cope with their expanding family, as a growing equity gap means that a large proportion will not be able to afford to upgrade to a larger property.
Since 2007, homes which are suitable to first time buyers have decreased in value by seven per cent, according to new HSBC figures, leaving many people who have not been saving with no option but to stay put.
The reduction in value, along with the fees to resell and stamp duty means that the cost to buy a new home is £27,000, but with the average 2007 first time buyer sitting on only £16,000 of equity, this will merely be a dream.
This could see the demand for tower hire to help with building extensions increase, as people look to ensure they have enough space for their expanding family.
Last week, HSBC said that the cost of housing a second child by moving home is now just below £60,000.