https://www.thelandsite.co.uk/files/articles/d1a1c9faa97111e98beb0afeec538f48/willmotts_1.jpg 146

Property Market Boosts Our Economy

Posted by Willmotts Chartered Surveyors on 26th November 2020 -

title

For every residential property resale, an average of £9,559 is added to the UK economy. That is an estimated £6bn added to the UK economy so far this year.

On average £5,400 is spent on renovations and new household goods, £3,100 on estate agency and legal fees and the rest comes from spending on removals and property surveys.

The housing market also helps support jobs, per 100,000 transactions a total of 11,557 jobs are directly or indirectly supported.

Rightmove estimate that there are 650,000 sales going through the buying and selling process, 67% more than at the same time in 2019. This will be a huge boost to the UK economy. Source: Dataloft, Knight Frank, Home Builders Federation

Are you trying to find a new place to live, call Willmotts for property advice or information with selling and or buying a home please email [email protected] or call 020 8222 9958.

 


Shahid Sadiq

Willmotts is a firm of RICS regulated chartered surveyors, est. 1856. Providing an award winning, Complete Property Service from Hammersmith in West London and beyond.

Link to Willmotts Chartered Surveyors business profile

26th March 2024
Targeting the Right Audience for Your Land
In this blog post, we’ll delve into effective strategies for targeting the right audience for your land.
Read more
19th March 2024
Teesside: A Blueprint for Connectivity
Whilst a significant amount of attention has been given to disappointments around HS2, the reality is that the North East has been progressing its connectivity through other schemes. 
Read more
19th March 2024
COP28 – What progress has real estate really made?
The COP28 climate summit held in Dubai in 2023 demonstrated the huge challenge of finding a meeting ground between western nations and the rest of the world,
Read more