The exhaust from a natural gas appliance contains about 0.15 litres of water per kWh of gas input, and about a tenth of the thermal output is lost because that water is emitted as vapour. Condensing boilers are a good idea in theory because they can condense the vapour and recover latent heat from the products of combustion, boosting output by around a tenth.
In practice, too few condensing boilers achieve their potential because they cannot cool the flue gas below its dew point (around 59C ). Result: plumes of vapour outside. This one resembles what you’d see boiling a 2-3 kW kettle in the open air, and that’s a measure of how much energy is being wasted.
The truth is that so-called condensing boilers need to be installed in heating systems with low return water temperatures. Underfloor heating, or systems with oversized radiators for example. Only then will they get sufficiently-low temperatures in their heat exchangers to get the exhaust vapour to condense.